- Lowe's has eliminated a number of merchandising and regional divisions to
improve efficiencies, increase speed to market for new products and services,
and enhance the customer shopping experience, No. 2 appliance chain said.
which includes the departures of four senior VPs, follows a lackluster second
quarter in which its performance trailed home-improvement rival The Home Depot.
Under the new
structure the company's four merchandising divisions have been collapsed into
two: a kitchen, bath and home dÃ©cor products unit, which includes major
appliances; and a building and outdoor products division. The former is led by
one-time appliance merchandising VP Clint Davis, and the latter is headed by
Troy Dally. Both retain their senior VP/general merchandise manager titles and
report to merchandising executive VP Robert Gfeller, Jr.
As a result of the
changes, Patricia Price, previously senior VP/general merchandise manager of home
dÃ©cor, has left the company, while her counterpart in outdoor living, Eric
Sowder, will retire on Sept. 9.
Lowe's has cut its store operations divisions down to three core geographic areas -- North, South and West -- and
has reduced its regional operations from 21 to 14 offices "to ensure greater
consistency and efficiency," the company said.
senior VPs -- Bill Edwards, South division; Jim Frasso, North division; and Brent Kirby, West division -- now report to
store operations executive VP Rick Damron, while former operations senior VPs Theresa
Anderson and Robert Wagner have left the company.
In a joint
statement, Damron and Gfeller said, "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."