Marvin R. Ellison

Chairman, President, and CEO at Lowe's Companies Inc

Board

Since July 2018

Age

59 years

Tenure

Joined LOW as President and CEO in 07-2018 and advanced to the role of Chairman, President, and CEO in 05-2021.

Also at Lowe's Companies Inc

BJS

Brandon J. Sink

Executive Vice President and CFO

JMD

Janice M. Dupré

Executive Vice President, Human Resources

JMMI

Joseph M. McFarland III

Executive Vice President, Stores

About

Marvin R. Ellison is a seasoned leader in the retail and home improvement industries, currently serving as Chairman, President, and Chief Executive Officer at LOW. At 59 years old, he brings over 35 years of experience in operational leadership and strategic transformation, making him a key figure in the growth and success of the company.

Although details on his educational background are not disclosed, his career progression speaks volumes about his capabilities. Beginning his career with significant roles at notable companies, he laid a strong foundation for his expertise in managing large-scale retail operations.

His professional journey includes pivotal leadership positions at Target Corporation, The Home Depot, and J.C. Penney, where he held roles spanning operational management to executive leadership. In 07-2018, he joined LOW as President and CEO, and his role evolved further in 05-2021 when he assumed the expanded responsibilities of Chairman, President, and CEO. His strategic direction has been credited with driving operational efficiency and enhancing customer service across the enterprise.

$LOW Performance Under Marvin R. Ellison

Past Roles

Organization	Role	Date Range	Details
J.C. Penney Company, Inc.	Chairman of the Board and Chief Executive Officer	2016 – May 2018	No longer held after transition to Lowe's
J.C. Penney Company, Inc.	Chief Executive Officer	2015 – 2016	Role prior to promotion at J.C. Penney
J.C. Penney Company, Inc.	President	2014 – 2015	Held before ascending to CEO roles at J.C. Penney
The Home Depot, Inc.	Executive Vice President – U.S. Stores	2008 – 2014	Position ended before joining Lowe's
The Home Depot, Inc.	President – Northern Division	2006 – 2008	Role prior to EVP appointment
The Home Depot, Inc.	Senior Vice President – Logistics	2005 – 2006	Previous senior leadership role
The Home Depot, Inc.	Vice President – Logistics	2004 – 2005	Held prior to senior vice president role
The Home Depot, Inc.	Vice President – Loss Prevention	2002 – 2004	Role focused on loss prevention initiatives
Target Corporation	Various Operational Roles	1987 – 2002	Held multiple roles in operations

External Roles

Organization	Role	Date Range [N/A]	Details
FedEx Corporation	Director on the Board	N/A [N/A]	Active board position
Retail Industry Leaders Association	Board Member	N/A [N/A]	Active member of the board

Fixed Compensation

Data from FY 2023

Component Name	Amount	Payment Schedule	Additional Details
Base Salary	$1,450,000	Annual	Fixed base annual salary
All Other Compensation	$101,418	Annual	Includes 401(k) matching contributions ($15,900) and Executive Deferred Compensation ($85,518); Other perquisites: $0

Performance Compensation

Data from FY 2023

Non-Equity Incentive Plan Compensation

Metric	Weight	Threshold	Target	Maximum	Vesting Schedule	Evaluation Period	Additional Details
Sales	40%	N/A	N/A	N/A	N/A	Fiscal Year 2023	Performance levels set by the Compensation Committee
Operating Income	40%	N/A	N/A	N/A	N/A	Fiscal Year 2023
Inventory Turnover	10%	N/A	N/A	N/A	N/A	Fiscal Year 2023
Pro Sales Growth	10%	N/A	N/A	N/A	N/A	Fiscal Year 2023

Performance Stock Units (PSUs)

Metric	Value	Additional Details
Threshold Shares	12,327 shares	Minimum performance level required for vesting
Target Shares	36,256 shares	Target performance level
Maximum Shares	72,512 shares	Maximum possible award
Performance Metrics	ROIC, Relative TSR	Earned based on three-year average ROIC and a relative TSR modifier
Vesting Schedule	3-year period	Vesting is contingent on achieving the performance metrics over the three-year evaluation period
Grant Date	April 1, 2023	Award grant date
Grant Date Fair Value	$7,568,440 (PSUs)	Fair value at the grant date