Marvin Ellison: CEO of Lowes
Marvin Ellison (born 1966) is the chairman, president and chief executive officer of Lowe’s Companies Inc. a FORTUNE® 50 home improvement company with more than 2,200 stores and approximately 300,000 associates in the United States and Canada. Ellison is the first African American to be President and CEO of two Fortune 500 corporations. Ellison is among only three African American CEOs in the Fortune 500, down from six in 2012.
“If you can do those things with your faith and you can get your education, if you can be really, really focused on trying to be the best and you can have goals that you set, you have no idea the blessings that you can achieve and the things that you can accomplish in your life. I’m a living example. There’s nothing special about me other than I’ve taken those things and I’ve implemented them in my life.”
Growing Up
Marvin was born in Haywood County, Tennessee, a poor, rural area northeast of Memphis. He is the fourth in a family of seven children. Neither of his parents graduated high school. In the late 1970s, his family recorded four albums as a gospel act known as the “Ellison Family.” Marvin played the bass guitar.
Ellison grew up in rural and impoverished Haywood County, Tennessee. With the help of multiple odd jobs such as janitorial work at a women’s department store and driving plumbing supplies trucks. he attended the University of Memphis and graduated in 1989.
Don’t let your surroundings dictate your future.
Education
Marvin holds a bachelor’s degree in business marketing from the University of Memphis. He also has a Master of Business Administration (MBA) degree from the Emory University- Goizueta Business School.
Career
Marvin started his career at Target as a 20 years old security guard with a salary of $4.35 an hour. He was an employee of Target for 15 years, where he worked in various positions from security guard, store associate to corporate director of Asset Production.
In 2002, Marvin joined home improvement retailer, Home Depot. He held several positions including as President - Northern Division from 2006 to 2008, Senior Vice President - Logistics from 2005 to 2006, Vice President - Logistics from 2004 to 2005, and Vice President - Loss Prevention from 2002 to 2004.
In 2014, Ellison joined department store chain J.C.Penney as CEO. He oversaw 1,100 stores and 104,000 employees in the United States and Puerto Rico. At J.C.Penny, Ellison delivered positive sales growth, reduced debt and generated positive adjusted earnings per share.
Ellison joined home improvement company Lowe’s as the CEO in July 2018 and as served as Chairman of the Lowe’s Board of Directors since May 2021.
- Lowe’s Companies, Inc.
Chairman, President and CEO - July 2021 - Present
President and Chief Executive - 2018 - Present - JCPenney
Chairman and CEO - Nov. 2014 - June 2018 - The Home Depot
EVP Stores - June 2002 - October 2014 - Target
Director - Jul 1987 - June 2002
When things get difficult in life, no one can beat you being you.
Personal Life
Ellison met his future wife while they were both attending the University of Memphis. They have two children together, and they live in Mooresville, North Carolina.
Marvin and his wife Sharyn are committed to being of service within their faith and communities, primarily through the support of organizations that promote higher education, self-empowerment and excellence for minority youth.
Board Membership:
- FedEx Corporation
- The Retail Industry Leaders Association.
- Board of Trustees, University of Memphis
Former Directorship
- H&R Block, Inc. (2011 - 2014)
- J. C. Penney (2014 - 2018)
Quotes
- Mother: God gave you one mouth and two ears for a reason. Listen more than you talk.
- Father: You may not have the most money in the bank or the nicest clothes and cars but nobody can beat you being you.
- Best way to learn: Get close to the customers - Frontline.
Awards
- Barron’s “Top CEOs” - 2022, 2021 and 2020
- Fortune’s 2016 World’s Greatest Leaders
- The National Father’s Day Council 2017 Father of the Year
- Black Enterprise 2016 Corporate Executive of the Year
Marvin Ellison’s profile is part of our Black Excellence Series.
