July 9, 2018 / 8:57 PM / 10 days ago

Lowe's to scrap four positions including chief operating officer

(Reuters) - Lowe’s Cos Inc (LOW.N) said on Monday it would eliminate four senior positions including chief operating officer, as new Chief Executive Officer Marvin Ellison shakes up the top deck at the home improvement chain.

The company said it would scrap chief customer officer, corporate administration executive and chief development officer positions.

“We have taken a fresh look at our organizational structure and are realigning our leadership team,” Ellison, who took charge as CEO last week, said in a statement.

The responsibilities of the four positions will be assigned to other senior executives who will directly report to Ellison.

Ellison, who joined from retailer J.C. Penney (JCP.N) where he was its CEO since 2014, also held a position for 12 years at Lowe’s biggest competitor, Home Depot Inc (HD.N).

Ellison took Robert Niblock’s role as Lowe’s CEO at a time the No. 2 U.S. home improvement store has struggled to control margin pressures and its same-store sales growth has trailed Home Depot’s for many years.

Lowe’s also said on Monday it had created two new executive vice president positions, one for stores and another for supply chain.

Reporting by Nivedita Balu in Bengaluru; Editing by Maju Samuel

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