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Marvin R. Ellison

Chairman, President, and CEO at LOWES COMPANIES
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 LOWES COMPANIES

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 NameAmountPayment ScheduleAdditional Details
Base Salary$1,450,000AnnualFixed base annual salary
All Other Compensation$101,418AnnualIncludes 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

MetricWeightThresholdTargetMaximumVesting ScheduleEvaluation PeriodAdditional Details
Sales40%N/AN/AN/AN/AFiscal Year 2023Performance levels set by the Compensation Committee
Operating Income40%N/AN/AN/AN/AFiscal Year 2023
Inventory Turnover10%N/AN/AN/AN/AFiscal Year 2023
Pro Sales Growth10%N/AN/AN/AN/AFiscal Year 2023

Performance Stock Units (PSUs)

MetricValueAdditional Details
Threshold Shares12,327 sharesMinimum performance level required for vesting
Target Shares36,256 sharesTarget performance level
Maximum Shares72,512 sharesMaximum possible award
Performance MetricsROIC, Relative TSREarned based on three-year average ROIC and a relative TSR modifier
Vesting Schedule3-year periodVesting is contingent on achieving the performance metrics over the three-year evaluation period
Grant DateApril 1, 2023Award grant date
Grant Date Fair Value$7,568,440 (PSUs)Fair value at the grant date