Lowe’s chief marketing officer leaves the company as part of broader shakeup

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Marisa Thalberg, executive vice president and chief brand and marketing officer.
Source: Marisa Thalberg

Lowe’s chief marketing officer Marisa Thalberg has left the retailer as part of a broader reorganization, the company said Tuesday.

The home improvement retailer has cut her role and moved its marketing team under Bill Boltz, executive vice president of merchandising. Thalberg previously reported directly to CEO Marvin Ellison.

Thalberg stepped into the role in February 2020, a month before pandemic began and fueled a surge of home improvement spending. She oversaw several high-profile campaigns, including TV commercials on ESPN during the NFL draft, and an expanded effort to capitalize on the holiday season.

Prior to joining Lowe’s, she was Taco Bell’s global chief brand officer and worked for Estee Lauder, Unilever Cosmetics International and Revlon.

Lowe’s tapped the advertising executive to woo customers as the retailer overhauled its broader business and went more head to head with larger rival, Home Depot. Led by Ellison, who joined Lowe’s in 2018, the home improvement retailer has relaunched its website, debuted a new loyalty program to chase home professionals’ dollars and expanded its merchandise mix to include exercise equipment, pet supplies and more home decor.

It wanted to refresh its image, too, and tapped Thalberg to oversee that. At the time of her hire, Ellison said Lowe’s hired her to put a more modern spin on Lowe’s marketing approach, such as personalizing messages on social media for customers instead of relying on traditional channels like TV and radio.

Thalberg could not be immediately reached for comment.

Her departure joins a growing wave of leadership changes in the retail industry. Gap, GameStop and Bed Bath & Beyond are among the other retailers who have lost C-suite executives.

Executive shakeups have gained steam as stimulus check-fueled spending wanes and some consumers pull back on discretionary purchases because of inflation. For some companies, particularly major pandemic beneficiaries like Peloton, it has meant a sudden and dramatic drop in sales.

Lowe’s, too, has seen a slowdown. Its same-store sales have declined in the past two quarters. The company said it now expects total and comparable sales for the year toward the bottom of its outlook range. It had forecast sales of $97 billion to $99 billion and comparable sales to be down 1% to up 1%.

This story is developing. Please check back for updates.

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