A deep home-improvement warehouse aisle, with illuminated tool displays, building materials, and reflective floors.

Marvin Ellison Biography: From Store Security to CEO

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In 2018, Marvin Ellison prepared to leave JCPenney, where a difficult recovery had produced one profitable fiscal year but no lasting turnaround. His next assignment was to lead Lowe’s, the home-improvement rival of his former employer, Home Depot.

At JCPenney, Ellison had worked on details such as merchandise placement and inventory replenishment while the retailer faced debt and declining mall traffic. Lowe’s presented different operational problems, followed by store closures, job cuts and an increasingly ambitious strategy to serve professional customers.

Ellison’s route to these executive roles began in 1987, with a part-time Target security job while he was in college. Over the following decades, he moved through loss prevention, logistics and nationwide store operations before taking responsibility for entire retail companies.

A Quick Look at the Life of Marvin Ellison

Biography Summary

Marvin R. Ellison is an American retail executive who served as JCPenney’s chief executive before becoming Lowe’s president and CEO in July 2018 and board chairman in May 2021. His work has spanned store protection, logistics, nationwide retail operations and company strategy. He is recognized as the first Black executive to serve as CEO of two different Fortune 500 companies. At Lowe’s, his later priorities have included professional customers, digital retail and installation services.

Profile

Full Name: Marvin R. Ellison

Raised In: Brownsville, Tennessee

Education: Business administration degree, University of Memphis; MBA, Emory University

Major Roles: Executive vice president of U.S. stores, Home Depot; president, CEO and chairman, JCPenney; chairman, president and CEO, Lowe’s

Current Position as of October 20, 2026: Chairman, president and CEO, Lowe’s Companies, Inc.

Recognition: National Retail Federation Foundation Visionary honor, 2023

Brownsville, Family Music and the Years Before Retail

Ellison grew up in Brownsville, a small western Tennessee town, in a family of seven children with limited financial resources. Music was part of family life: the Ellisons performed gospel songs, and Marvin played bass guitar. A family photograph described in a 2016 Fortune profile shows the group performing in 1979.

Ellison has spoken about his parents’ experiences of the segregated South and their insistence that their children not let circumstances define their ambitions. Ellison and family members have also recalled his father working multiple jobs and leaving school to help support relatives.

A College Job That Became a Retail Career

While attending the University of Memphis, Ellison took a part-time security and loss-prevention job at Target in 1987. By his account, the job paid $4.35 an hour and helped him meet college expenses.

He stayed with Target until 2002, advancing through loss prevention and asset protection to director-level management. He also earned a University of Memphis degree in business administration, with marketing identified as his area of study in university and corporate biographies.

Ellison later said that senior managers sometimes failed to listen to employees who knew the stores firsthand. That lesson became a recurring theme in his interviews and resurfaced when he described his first days leading Lowe’s.

Home Depot: From Loss Prevention to Running U.S. Stores

Home Depot hired Ellison as a loss-prevention vice president in 2002. The next dozen years broadened his responsibilities beyond that specialty. He moved through logistics and divisional leadership, then became executive vice president of U.S. stores in August 2008—a job he held until 2014.

Ellison credits former Home Depot CEO Bob Nardelli with encouraging him to move into logistics rather than remain within asset protection. He also credits Nardelli with supporting the opportunity to study for an MBA at Emory University, which he completed in 2005.

Former Home Depot CEO Frank Blake and co-founder Bernie Marcus later described Ellison’s attention to store operations and customer service in interviews with Fortune.

The next top job at Home Depot went elsewhere. In 2014, the company selected Craig Menear to succeed Blake as CEO. Menear brought deeper merchandising experience, which contemporary career reporting discussed in connection with the succession. Ellison’s path instead moved to JCPenney, where the opportunity was to lead an entire company through a demanding recovery.

JCPenney: A First CEO Assignment with Mixed Results

JCPenney announced Ellison’s appointment in October 2014. He became president that November, working through a transition with outgoing leader Mike Ullman, and took over as CEO in August 2015. In August 2016, Ellison added the board chairmanship.

The business he inherited had already endured disruptive strategic changes, competition from online retail, declining mall traffic and substantial debt. Ellison focused on practical merchandising and operational decisions. In a 2016 store visit reported by Fortune, examples included bringing men’s shoes closer to men’s clothing, tightening inventory replenishment and changing how managers engaged with store employees and customers.

Discussing store decisions with Fortune, Ellison said, “Pure intuition without any data gets you in trouble.” It was a practical operating principle, but the problems confronting JCPenney extended well beyond store layouts.

There was measurable progress. JCPenney reported its first annual GAAP net profit since 2010 for fiscal 2016. Yet the recovery did not continue in a straight line. During 2017, the company identified 138 stores for closure, with related effects on employees and property values. Its fiscal 2017 results showed a full-year GAAP net loss even though adjusted earnings per share were positive and comparable sales edged up 0.1%. The company also reported reducing outstanding debt by more than $600 million that fiscal year.

The profit did not amount to a durable rescue. In the first quarter of fiscal 2018, comparable sales rose just 0.2%, below management’s expectations. Ellison resigned the JCPenney board chairmanship in May and left as CEO and director effective June 1, 2018. JCPenney’s regulatory filing stated that his departure did not result from a disagreement with the company or its management.

Taking Over Lowe’s and Reconsidering the Store Business

Lowe’s announced on May 22, 2018, that Ellison would replace retiring CEO Robert Niblock, effective July 2. Independent director Richard Dreiling became chairman at the time; Ellison initially joined as president and CEO, not board chair. He was returning to an industry he knew from his years at Home Depot.

Ellison later said he spent his early days working in and listening to Lowe’s stores rather than simply operating from headquarters. He described time at a contractor-focused Pro desk and in receiving areas, asking employees about everyday obstacles. He presented those visits as a way to learn about operational problems directly from associates.

The company’s early decisions were significant and disruptive. In November 2018, Lowe’s announced plans to close 20 U.S. stores and 31 Canadian locations as part of a portfolio review. It also moved to exit several businesses outside its core retail operation, including its Mexico retail activities and certain service and smart-home ventures. In the announcement, Ellison said: “The store closures are a necessary step in our strategic reassessment”.

Restructuring also affected workers in stores that stayed open. In 2019, Lowe’s eliminated thousands of assembly and maintenance positions as outside contractors took over those functions. The company said displaced employees could pursue other open jobs and that transition pay would be available in certain circumstances. Workers interviewed by CBS described difficulties and criticized the payments; some received limited support, while a part-time employee said she received none. Criticism also linked the cuts with the company’s share buybacks.

Lowe’s early restructuring went beyond changes in management style: it narrowed the company’s portfolio and reorganized store work, prompting criticism about the effect on employees.

Public Leadership During a National Crisis

On May 31, 2020, amid the response to George Floyd’s killing, Ellison issued a letter to Lowe’s associates condemning racism and recounting experiences from his family’s past. He wrote: “We need to remember that the best action we can take is to unite in solidarity”. The letter brought his personal account of the segregated South into his public role as CEO.

That year Lowe’s also expanded a pandemic small-business grant program with the Local Initiatives Support Corporation. Its commitment reached $55 million, including funding directed to minority-owned businesses and rural communities.

Total Home: A Broader Strategy for Lowe’s

In December 2020, Lowe’s introduced its Total Home strategy, aiming to serve do-it-yourself shoppers and professional customers more comprehensively through merchandise, installation, online shopping and stronger Pro operations. Ellison publicly explained the plan as the company expanded its focus on the different ways customers undertake home-improvement projects.

In May 2021, Ellison added the Lowe’s board chairmanship to his duties as president and CEO. That year, the company launched its 100 Hometowns centennial initiative, committing $10 million to community projects. One of those projects brought Ellison back to Brownsville.

A Smaller Footprint, Softer DIY Demand and a Policy Dispute

The years following the initial Total Home announcement brought new adjustments. Lowe’s announced the sale of its Canadian retail business to Sycamore Partners in November 2022 and completed the transaction on February 3, 2023. The sale included the company’s Canadian retail banners and accompanied approximately $2.5 billion in fiscal 2022 pretax disposition charges.

In 2023, weaker spending on discretionary do-it-yourself home projects pressured Lowe’s sales expectations. The company lowered its annual comparable-sales outlook while continuing to develop its offerings for professional customers and services.

In August 2024, Lowe’s changed several diversity, equity and inclusion policies. The company stopped participating in Human Rights Campaign surveys, consolidated employee resource groups and limited participation in some community events. An executive-team memo described a review following a 2023 Supreme Court ruling; reporting also documented outside political pressure.

A separate false claim also circulated. In August 2024, Reuters debunked a digitally altered CNBC-style graphic that falsely attributed to Ellison a remark telling conservatives to shop at Home Depot.

In December 2024, Lowe’s updated Total Home with additional attention to Pro customers, online shopping, home services, loyalty and space productivity. Ellison described the changes as investments intended to support longer-term growth.

Building a Larger Business for Professional Customers

The shift toward professional builders and installers became especially visible in 2025. On June 2, Lowe’s completed its $1.325 billion acquisition of Artisan Design Group, which supplies design, distribution and installation services for interior finishes. On October 9, the company completed an approximately $8.8 billion acquisition of Foundation Building Materials, a distributor of interior construction products.

The deals expanded Lowe’s reach beyond conventional store transactions and involved substantial spending. Management discussed future opportunities to sell more products and services across the acquired businesses, but those projected benefits were not established results.

Lowe’s fiscal 2025, which ended January 30, 2026, illustrated both the scale of the company and the mixed results. It reported $86.286 billion in sales, up 3.1% from the preceding fiscal year, while comparable sales grew only 0.2%. Net earnings were $6.654 billion, down 4.4%, amid acquisition-related costs and pressure on transactions.

In the quarter ended July 31, 2026, Lowe’s reported approximately $26 billion in sales, 0.2% comparable-sales growth and 15.7% online sales growth. Ellison pointed to Pro, online and home-services performance as strengths. Even so, the August 19 announcement lowered the company’s forecast for fiscal 2026 to around $92 billion in total sales and approximately flat comparable sales, reflecting continued caution about higher-cost home projects.

As of October 20, 2026, Lowe’s still listed Ellison as chairman, president and CEO. The August outlook was a forecast, while the longer-term effects of its acquisition-led Pro expansion remained to be seen.

Leadership, Representation and an Unfinished Business Story

Ellison’s leadership of JCPenney and Lowe’s made him the first Black executive to serve as CEO of two different Fortune 500 companies. He was not the first Black Fortune 500 CEO, but the two-company distinction marks an uncommon achievement in U.S. corporate history. In January 2023, the National Retail Federation Foundation recognized him with its Visionary honor. He has also served on the FedEx board and been listed as a University of Memphis trustee.

In Ellison’s telling, listening to frontline employees, learning from mentors and taking unfamiliar assignments helped shape his approach. His executive years have also included closures, job cuts, public criticism and strategies whose outcomes remain unsettled. From an hourly Target position to overseeing Lowe’s expansion into professional building services, his career illustrates both how far retail experience can carry an executive and how difficult it is to secure lasting results.

Timeline

Key milestones in Marvin Ellison’s education, retail career and Lowe’s leadership are highlighted below.

Timeline.

1987

Begins part-time security and loss-prevention work at Target while attending college.

2002–2008

Moves from Target to Home Depot in 2002; earns an Emory MBA in 2005 and becomes Home Depot executive vice president of U.S. stores in August 2008.

2014–2016

Home Depot names Craig Menear as its next CEO. Ellison joins JCPenney as president in November 2014, becomes CEO in August 2015 and board chairman in August 2016.

Fiscal 2016–2017

JCPenney returns to annual GAAP profit in fiscal 2016 but reports a fiscal 2017 GAAP loss and plans to close 138 stores.

May–July 2018

Leaves JCPenney and becomes Lowe’s president and CEO on July 2.

2018–2019

Lowe’s announces U.S. and Canadian store closures, exits some non-core businesses and eliminates store-level positions as it outsources certain work.

2020

Ellison issues a public letter about racism; Lowe’s expands small-business relief commitments and announces its Total Home strategy in December.

2021

Becomes Lowe’s board chairman in May; a Lowe’s community project takes place in his hometown of Brownsville.

2022–2023

Lowe’s announces and completes its Canadian retail divestiture. Ellison receives the NRF Foundation’s 2023 Visionary honor; weaker DIY demand pressures company guidance.

2024

Lowe’s revises some diversity-related policies and later updates its Total Home strategy.

2025

Lowe’s completes the acquisitions of Artisan Design Group in June and Foundation Building Materials in October.

2026

Lowe’s reports fiscal 2025 results and, in August, lowers its forecast for fiscal 2026 amid continued uneven demand.

FAQs

Question: Why is Marvin Ellison’s Fortune 500 career historically significant?

Answer: Ellison became the first Black executive to lead two different Fortune 500 companies as CEO: JCPenney and Lowe’s. He was not the first Black person to become CEO of any Fortune 500 company.

Question: Did Marvin Ellison turn JCPenney around?

Answer: JCPenney improved in some periods but did not complete a sustained recovery during Ellison’s tenure. It reported an annual GAAP profit for fiscal 2016, followed by a fiscal 2017 GAAP loss and major store closures. He departed in 2018 with the company still facing significant challenges.

Question: Did Marvin Ellison become Lowe’s chairman when he was hired as CEO?

Answer: No. Ellison became Lowe’s president and CEO on July 2, 2018. Richard Dreiling was board chairman at that time, and Ellison added the chairmanship in May 2021.

Question: Did Marvin Ellison tell conservatives to shop at Home Depot?

Answer: No. The widely circulated CNBC-style graphic attributing that statement to him had been altered. Reuters checked the original broadcast and reported that the purported quote was false.

Question: What does Lowe’s Total Home strategy mean?

Answer: Announced in December 2020 and updated later, Total Home aims to serve do-it-yourself shoppers and professional customers through coordinated product assortments, digital shopping, installation, home services and stronger Pro offerings. The program’s plans should not be confused with guaranteed results.

Interviews

Taking Difficult Assignments: Ellison on Career Development

In this February 2021 Fortune interview, Ellison discusses the value he places on taking demanding assignments and credits mentorship in the expansion of his responsibilities at Home Depot. It offers a first-person perspective on his move beyond asset protection toward logistics and store operations.

View the interview

A Q&A on Retail Leadership and Frontline Experience

Spencer Stuart’s conversation with Ellison focuses on his retail background and his approach to employees and customers. It is useful for understanding how he connects an hourly entry into the industry with his later management philosophy.

View the interview

Black Enterprise: Early Opportunities and Professional Values

This Black Enterprise profile and interview addresses Ellison’s background and the values he describes in his career. Ellison’s own reflections add personal context to the early stages of his career.

View the interview

CNBC Leaders Playbook: Inside Lowe’s

This January 28, 2026 episode features Ellison and Lowe’s human-resources executive Janice Dupré. The roughly 21-minute original recording gives readers a chance to hear a more recent conversation rather than rely only on written profiles.

View the interview

Sources