New Lowe’s CEO has ties to Memphis area

Marvin Ellison (left) shakes hands with President Donald Trump.

MEMPHIS, Tenn. — Home improvement giant Lowe’s announced Tuesday that Brownsville native and University of Memphis graduate Marvin Ellison will serve as the company’s new president and CEO.

Ellison is currently chairman and CEO of J.C. Penney Company and previously worked as an executive at Home Depot.

North Carolina-based Lowe’s employs 310,000 people in 2,390 stores with fiscal year 2017 sales of $68.6 billion.

“Attracting Marvin is a great win for the entire Lowe’s team,” said Marshall O. Larsen, lead director of the Lowe’s board.

Ellison’s entry into retail began when he was a student at the U of M.

He took a part-time, $4.35 an hour security job at Target through the university employment office and worked his way up over the next 15 years.

When WREG interviewed him last year, Ellison was one of only four African-Americans leading a Fortune 500 company.