Lowe’s Companies, Inc. (NYSE: LOW) has simplified its management structure and reorganised the distribution of responsibilities. The aim of the restructuring is to enhance operational excellence, according to a press release by the company.
As part of the new management structure of the company, the positions of chief operating officer, chief customer officer, corporate administration executive and chief development officer have been abolished and assigned to other managerial positions.
Executive vice president (EVP), merchandising: the incumbent of this role will be responsible for merchandising, marketing, digital and data analysis and customer insights. William P. (Bill) Boltz has been appointed with effect from 15 August 2018. Boltz is currently president and CEO of Chervon North America. In this position he is responsible for distribution, marketing, engineering and product development of the products under the EGO, SKIL and SKILSAW brands in North America. Chief customer officer Michael P. McDermott has decided to leave the company with effect from 6 November 2018.
EVP, stores: the company has initiated an external search for this newly-created position, which will cover the areas north, south and west, Orchard Supply Hardware, operations engineering, pro and services plus asset protection. The heads of the store operating teams will report to the CEO until an EVP has been appointed. Chief operating officer Richard D. Maltsberger has left the company with immediate effect.
EVP, supply chain: this new role will cover distribution centres, logistics, global sourcing, transport and delivery service. Mike West, the current senior vice president, supply chain operations, will assume this role while an external candidate is sought.
SVP, chief information officer: Paul D. Ramsay remains in his current position as CIO.
EVP, chief financial officer: as already announced, Marshall A. Croom plans to leave the company with effect from 5 October 2018. An external search is under way. Croom will continue in the role until his successor is appointed and will then remain during a transition phase until his departure from the company.
EVP, general counsel & corporate secretary: Bill McCanless will remain in his current role as EVP, general counsel and corporate secretary. N. Brian Peace, SVP, administration, will report to McCanless with immediate effect. EVP, human resources: Jennifer L. Weber is to retain her current role. President & CEO, Canada: Sylvain Prud’homme remains in post as president & CEO, Canada, where he will continue to oversee operations in Canada and Mexico.
Marvin R. Ellison, president and CEO of Lowe’s, said: "We have taken a fresh look at our organizational structure and are realigning our leadership team to improve our focus, better leverage Lowe’s omnichannel capabilities and deliver increased value for our customers, associates and shareholders.