Lowe’s CFO to Retire

Lowe’s (Mooresville, N.C.) announced that its current Chief Financial Officer, Marshall Croom, will be retiring later this year. Effective October 5, Croom will step down from his role with the home-improvement retailer, where he has worked for the past 21 years.

The company has already started the search for his replacement, and he will remain on hand throughout the search and during a transition period.

According to Chain Store Age, the announcement follows news of a new Chief Executive for the company: Marvin Ellison will join the company July 2 from JCPenney (Plano, Texas) to fill the CEO role.