Lowe’s will appoint Joseph M. McFarland III as its new EVP of Stores, effective August 15, 2018. The appointment continues the company’s major C-level realignment, which started two weeks ago when Lowe’s eliminated four top positions.
In his role, McFarland will oversee the company’s north, south and west divisions, subsidiary OrchardSupplyHardware, as well as its pro and services businesses, operation engineering, and asset protection. He will report to President and CEO Marvin R. Ellison, who resigned from JCPenney to join Lowe’s in May. This will be the third time McFarland works under Ellison, having worked with him at JCPenney and The Home Depot.
"Joe is a strategic, results-oriented retail executive who excels at achieving operational excellence, financial management and brand positioning to deliver top and bottom line results," said Ellison in a statement. "Importantly, he is an exceptional leader with a proven record of driving sales and implementing omni-channel initiatives on a large scale.”
McFarland will join Lowe’s with more than 20 years of experience in the home improvement industry.Most recently, McFarland served as EVP and Chief Customer Officer at JCPenney, where he oversaw the company’s stores, operations and merchandise strategies. Prior to JCPenney, McFarland served as President of the northern and western divisions at The Home Depot, where he led the largest sales volume division in the company, producing $36 billion in annual revenue and record profits. Before that, he managed all aspects of the company’s store operations and merchandising where he led the region as the top performing region in the company for two consecutive years.