Lowe's Announces Store Operations and Merchandising Reorganization

MOORESVILLE, N.C.--(BUSINESS WIRE)-- Lowe's Companies, Inc. (NYSE:LOW) today announced a restructuring of its store operations and merchandising organizations. The consolidation is designed to improve efficiencies, increase speed to market for new products and services, and enhance the shopping experience for customers.

The company's U.S. store operations organization will now operate under three divisions - North, South and West. In addition, the divisional structure will be streamlined to 14 regions nationally, from 21, to ensure greater consistency and efficiency. Details regarding the new regional structure will be finalized at a later time.

Each division will be led by a senior vice president (SVP) of operations, reporting to Rick D. Damron, executive vice president of store operations:

    --  William W. (Bill) Edwards, SVP of operations - South division
        (previously SVP - South Central)
    --  James M. (Jim) Frasso, SVP of operations - North division (previously
        SVP - Northeast)
    --  Brent G. Kirby, SVP of operations - West division (previously SVP -
        North Central)

Lowe's merchandising organization has been reorganized into two product divisions. Each division will be led by an SVP/general merchandising manager (GMM), reporting to Executive Vice President of Merchandising Robert J. Gfeller Jr.

    --  Troy J. Dally, previously SVP/GMM - hardlines/building products, will
        lead the new building & outdoor products division
    --  Clinton T. (Clint) Davis, previously SVP/GMM - kitchen & bath, will lead
        the new kitchen, bath & home decor products division

Related to these changes, Theresa A. Anderson and Robert F. Wagner, previously SVPs of operations, and Patricia M. Price, previously SVP/GMM - home decor, have left the company.

As announced in July, Eric D. Sowder, SVP/GMM - outdoor living, will retire from Lowe's on Sept. 9.

"This new organizational structure reflects the company's future direction to better serve customers whenever and however they wish to shop with us. These leaders are well positioned to take on new and challenging roles to help lead our company forward," said Damron and Gfeller. "We would also like to thank Robert, Theresa and Patti for their many years of dedication and service to Lowe's. We wish them well in the future."

With fiscal year 2010 sales of $48.8 billion, Lowe's Companies, Inc. is a FORTUNE^(R) 50 company that serves approximately 15 million customers a week at more than 1,750 home improvement stores in the United States, Canada and Mexico. Founded in 1946 and based in Mooresville, N.C., Lowe's is the second-largest home improvement retailer in the world. For more information, visit Lowes.com.

    Source: Lowe's Companies, Inc.