Lowe’s Appoints New Chief Financial Officer

by Katie Lee

Mooresville, N.C. — Marshall A. Croom, a 20-year Lowe’s veteran, has been promoted to chief financial officer, effective March 3, 2017. Croom succeeds Robert F. (Bob) Hull Jr., who plans to retire after 17 years with Lowe’s Companies, Inc. Croom will report to Robert A. Niblock, Lowe’s chairman, president and CEO. Hull will remain at Lowe’s through March to ensure a smooth transition period.

In his new role, Croom will oversee accounting, tax, treasury, investor relations, and financial planning and analysis. He will also continue to lead internal audit and enterprise risk management, areas he has managed since 2009.

“Marshall brings over 30 years of financial and operational experience to his new role and, importantly, possesses a deep understanding of virtually every facet of Lowe’s,” Niblock says. “We have confidence in Marshall’s proven leadership as we continue to focus and invest in the areas that meet consumers’ evolving expectations. We look forward to a smooth transition, given our CFO succession planning process.”

For the past 8 years as chief risk officer, Croom oversaw and directed enterprise risk management, internal audit, project and process management, quality assurance, information security, loss prevention and workers’ compensation. Prior to leading the risk organization, he held several leadership positions in finance. In addition, he spent 3 years as senior vice president of merchandising and store operations support. Croom joined Lowe’s in 1997, following a successful 11-year career with Ernst & Young.

“At the same time, we want to thank Bob for the many contributions he has made to the organization, including 14 years as our CFO,” says Niblock. “He played an integral role in the growth and success of Lowe’s transformation to an omnichannel home improvement company. We appreciate all that he has done for our company and wish him the best with his next chapter.”

Mooresville, N.C.-based Lowe’s Companies, Inc. and its related businesses operate or service more than 2,355 home improvement and hardware stores. For more information, visit Lowes.com.

SOURCE: Lowe’s Companies, Inc.

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