J.C. Penney chief named to lead Mooresville-based Lowe’s

Marvin Ellison, the current chairman and CEO of J.C. Penney Co. Inc., will be the new president and CEO of Mooresville-based Lowe’s Cos. Inc. He replaces Robert Niblock, who’s leaving Lowe’s after activist board members were named to the company’s directors. Niblock announced in late March he’s retiring. Ellison will take the helm July 2. Ellison is credited with improving the balance sheet at J.C. Penney (NYSE: JCP), which like many retailers is struggling with online competition. He…

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