Lowes Stock Rises on Report of Marvin Ellison Moving from CEO of JCPenney

Marvin Ellison, one of three Black CEOs in the Fortune 500, shared his career journey during DiversityInc’s Top 50 Companies for Diversity event May 1. On Tuesday, it was announced that Ellison will leave his position as CEO of JCPenney to take the helm of Lowe’s.


Ellison joined JCPenney at a time when they were struggling with $5 billion in debt, and an almost $1.5 billion operating loss. Their customers had been alienated. He stated at the Top 50 Event that as soon as he learned that women were his major customers, he made leadership in the company reflect that. Also pulling from his experience at Home Depot for 12 years, he reduced the debt and modernized its e-commerce, as well as expanded their offerings in the home market.

With his sights now set on Lowe’s, the home improvement competitor of his former employer, he has similar issues to contend with.

Lowe’s has not participated in the Diversity Top 50 in the past, but their new history starts today.

Ellison, who had chaired the executive diversity council at JCPenney, served as an executive sponsor and made the majority of his direct reports women, said he owes his success to the values taught by his sharecropper father and mother, who was a factory worker: faith and moral strength, hard work and education, as well as gratitude for those who came before him and sacrificed. “Every day I am grateful,” said Ellison.

Latest News

Tennessee

Tennessee Lawmakers Move to Ban Education Against Racism in State’s Public Schools

In recent months, Republican-led states have already moved to enact racist and hyper restrictive voter registration laws, strip rights from LGBTQ individuals and attack trans students and their families — but their ongoing efforts to attack Democrats, populations of color and other diverse individuals don’t appear to be stopping there….

Latinx voting

New Study Reveals 1 Out of Every 10 Voters in 2020 Presidential Election was Latinx — a New Record in Representation

Thanks to extraordinary registration efforts and incredibly high turnout among younger and U.S.-born Hispanics, a new study conducted at the City University of New York has found that voting rates for Latinx men and women reached a new record high during the 2020 U.S. Presidential election. Suzanne Gamboa of NBC…

Capital One: ‘Freedom To Be You’

Originally published at capitalonecareers.com. Capital One Financial ranked No. 28 on The DiversityInc Top 50 Companies for Diversity list in 2021.   Cindy Viener joined Capital One in 2009 and leads Product Management for several of its Card platforms, including Marketing, Rewards, Payments and Customer Resiliency. Viener has also served…

social media

GLAAD Declares Facebook, Instagram, TikTok, Twitter and YouTube ‘Effectively Unsafe’ for LGBTQ Users

In a first-of-its-kind report on “user experience” for the country’s leading social media platforms, the Gay & Lesbian Alliance Against Defamation (GLAAD) has declared Facebook, Instagram, TikTok, Twitter and YouTube “effectively unsafe for LGBTQ users.” Cynthia Silva from NBC News reported that GLAAD’s inaugural “Social Media Safety Index” report originally…