JCPenney CEO to Lead Lowe's

Longtime retail veteran and current JCPenney chief executive officer Marvin Ellison is leaving the company this summer to step into the same position at Lowe's.Marvin Ellison will take the helm at the hardware retailer on July 2, succeeding Robert Niblock, who had announced his retirement in March."[Ellison] brings significant experience in the home improvement industry, with a proven track record of global operational excellence and driving results from both DIY and Pro customers," Lowe's lead director of the board Marshall Larsen said in a media release. “[Ellison] joins Lowe's at a critical inflection point as we work to enhance our competitive position and capitalize on solid project demand in an evolving consumer environment. We look forward to shepherding an exciting new chapter for Lowe's under [Ellison's] leadership.”Ellison joined JCPenney in 2014 and implemented a turnaround strategy to improve the company's balance sheet, increase store productivity, optimize operations and grow key categories. Before that, he spent 12 years in senior-level operations roles with Home Depot, where he served as executive vice president of U.S. stores. At Home Depot, Ellison oversaw U.S. sales, operations and Pro strategic initiatives, dramatically improving customer service and efficiency across the organization to serve DIY and Pro consumers. He also spent 15 years at Target in a variety of operational roles starting in 1987.“Working closely with Lowe's board, management team and the more than 310,000 talented employees, I believe we will not just compete, but win in today's complex retail environment,” Ellison said in the release. “Together, we will leverage Lowe's omnichannel capabilities to deliver the most simple and seamless customer experiences as we execute with purpose and put the customer first in everything we do."

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