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Lowe’s hires on former J.C. Penney leader

August 1, 2018

Lowe's CEO Marvin Ellison, who took on his role at the start of July, has hired Joe McFarland as executive vice president of stores, according to a Bloomberg report.

McFarland, who will step into the job in mid-August, was formerly a top leader at Home Depot where he worked for 22 years, and also served as CEO of J.C. Penney three years ago.

The appointment of McFarland is part of the home improvement retailer's efforts to restrategize and reorganize its leadership. Lowe's eliminated the roles of chief operating officer, chief customer officer, corporate administration executive and chief development officer positions in early July.

Chief Customer Officer Michael P. McDermott is leaving the company as of early November, according to a release, and Chief Operating Officer Richard D. Maltsbarger has already left. Lowe' also named William Boltz, another Home Depot veteran, to the new role of executive vice president of merchandising.