Archived: 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

Video: How Companies Are Ensuring Equity for People With Disabilities

The National Organization on Disability held its annual forum in Washington, D.C. last week, bringing together community leaders, advocates, government officials and corporate leaders and influencers to focus on the advancement of people with disabilities in the workplace. DiversityInc also met up with leaders from Capital One Financial (No. 22…

Validated Allies wallpaper

DiversityInc Announces 2022 Validated Allies

Allyship is a journey rather than a destination. The work of an ally never really ends and allies understand they are not necessarily always working toward a goal, but rather, serving a greater purpose. Each year, as part of our Women of Color and Their Allies event, DiversityInc recognizes a…

CDO Series: Sysco’s Adrienne Trimble

Following the murder of George Floyd, the role of Chief Diversity Officers has become more important as companies started to be more intentional with their diversity, equity and inclusion efforts, which has made the last few years tumultuous for many CDOs. In the latest installment of a series of articles…

NOD Forum: Honoring the Disability Rights Movement

The road to disability rights has been a long one. One that started long before the Americans with Disabilities Act (ADA) of 1990 was passed. In celebration of 40 years of the National Organization on Disability, disability leaders, supporters and activists gathered in Washington, D.C last week to discuss the…

5 Biggest News Stories of the Week: September 29

As the saying goes, the news never stops — but there’s a lot of it out there, and all of it doesn’t always pertain to our readers. In this weekly news roundup, we’ll cover the top news stories that matter most to our diversity focused audience. 1. Research Outlines Lack…

Humana Ranks Highly in the Hispanic Association on Corporate Responsibility Inclusion Index

Originally published at press.humana.com. Humana ranked No. 9 on The DiversityInc Top 50 Companies for Diversity list in 2022.   Humana Inc. celebrates the high rankings it recently received in the 2022 Hispanic Association on Corporate Responsibility (HACR) Corporate Inclusion Index (CII), a research initiative that measures Hispanic inclusion in the…