Marisa Thalberg, govt vice president and chief model and marketing officer.
Resource: Marisa Thalberg
Lowe’s chief marketing and advertising officer Marisa Thalberg has still left the retailer as section of a broader reorganization, the organization said Tuesday.
The residence advancement retailer reduce her role and moved its advertising and marketing group underneath Monthly bill Boltz, government vice president of merchandising. Thalberg earlier documented instantly to CEO Marvin Ellison.
Thalberg’s departure is part of a expanding wave of leadership changes in the retail market. Hole, GameStop and Bed Bathtub & Outside of are amid the other vendors who have missing C-suite executives. This kind of shakeups have attained steam as stimulus look at-fueled expending wanes and some individuals pull again on discretionary buys simply because of inflation. For some companies, specially main pandemic beneficiaries these as Peloton, it has meant a sudden and spectacular fall in profits.
Lowe’s, much too, has seen a slowdown. Its very same-shop gross sales have declined in the previous two quarters. The business stated it now expects whole and similar gross sales for the calendar year toward the base of its outlook range. It had forecast revenue of $97 billion to $99 billion and equivalent income to be down 1% to up 1%.
Thalberg stepped into the position in February 2020, a month just before the pandemic began and fueled a surge of residence improvement paying out. She oversaw numerous superior-profile strategies, such as Television commercials on ESPN all through the NFL Draft, and an expanded work to capitalize on the holiday getaway period.
Prior to joining Lowe’s, she was Taco Bell’s global chief manufacturer officer and labored for Estee Lauder, Unilever Cosmetics International and Revlon.
Lowe’s tapped the promoting executive to woo consumers as the retailer overhauled its broader business and went more head-to-head with larger rival Residence Depot. Led by Ellison, who joined Lowe’s in 2018, the residence improvement retailer has relaunched its web-site, debuted a new loyalty program to chase residence professionals’ bucks and expanded its products combine to include things like exercising products, pet supplies and much more residence decor.
It required to refresh its impression, much too, and tapped Thalberg to oversee that. At the time of her employ, Ellison reported Lowe’s employed her to place a more fashionable spin on Lowe’s advertising solution, this sort of as personalizing messages on social media for shoppers alternatively of relying on regular channels this kind of as Tv set and radio.
Thalberg could not be immediately arrived at for comment.
Lowe’s stated Thalberg’s departure is just one of several companywide alterations that took influence Friday. It stated all variations are intended “to strengthen alignment throughout the enterprise and posture Lowe’s for achievements.”
Its business enterprise that caters to household professionals, these as electricians and contractors, will now be beneath shop functions. Tony Hurst, a senior vice president who oversees Lowe’s professional small business, will now report to Joe McFarland, Lowe’s executive vice president of suppliers. He earlier reported right to Ellison.
Its on-line team, which previously was less than Boltz’s management, will now be below the technological innovation team instead of the merchandising crew. Mike Shady, senior vice president of on the internet, will report specifically to Lowe’s chief digital and info officer Seemantini Godbole.
Lowe’s CMO part has not been loaded. As an alternative, Lowe’s has promoted Jen Wilson as senior vice president of organization model and promoting, and she will report to Boltz.
Shares of Lowe’s are down about 25% so considerably this calendar year, closing Tuesday at $192.96.