Lowe’s chief marketing officer is leaving the company as part of a wider reshuffle

Marisa Thalberg, Government Vice President and Chief Model and Advertising Officer.

Supply: Marisa Thalberg

Lowe’s Chief Advertising Officer Marisa Thalberg has left the retailer as a part of a broader reorganization, the corporate introduced Tuesday.

The house enchancment retailer has lowered its function and moved its advertising crew underneath Invoice Boltz, government vice chairman of merchandising. Thalberg beforehand reported on to CEO Marvin Ellison.

Thalberg’s departure is a part of a rising wave of management adjustments within the retail trade. Hole, GameStop and Mattress Tub & Past are amongst different retailers which have misplaced C-suite executives. These upheavals have grown as spending fueled by stimulus checks wanes and a few customers pull out of discretionary purchases attributable to inflation. For some corporations, particularly massive beneficiaries of the pandemic like Peloton, this has meant a sudden and dramatic drop in gross sales.

Lowe’s additionally skilled a downturn. Its same-store gross sales have declined over the previous two quarters. The corporate mentioned it now expects whole and comparable gross sales for the 12 months in the direction of the underside of its outlook vary. He had forecast gross sales of $97 billion to $99 billion and comparable gross sales down 1% to 1%.

Thalberg took workplace in February 2020, a month earlier than the pandemic started, and fueled a surge in house enchancment spending. She oversaw a number of high-profile campaigns, together with TV commercials on ESPN in the course of the NFL Draft, and an elevated effort to capitalize on the vacation season.

Previous to becoming a member of Lowe’s, she was International Model Director at Taco Bell and labored for Estee Lauder, Unilever Cosmetics Worldwide and Revlon.

Lowe’s tapped the promoting government to woo prospects because the retailer reshuffled its broader enterprise and took on extra opposition to its largest rival, House Depot. Led by Ellison, who joined Lowe’s in 2018, the house enchancment retailer has relaunched its web site, launched a brand new loyalty program to chase cash away from house professionals and expanded its merchandise line to incorporate gear for train, pet provides and extra house decor.

He additionally needed to refresh his picture and introduced in Thalberg to supervise this. On the time of her rent, Ellison mentioned Lowe employed her to place a extra trendy spin on Lowe’s advertising method, akin to personalizing social media messages for purchasers as a substitute of counting on channels. conventional like tv and radio.

Thalberg couldn’t instantly be reached for remark.

Lowe’s mentioned Thalberg’s departure is considered one of a number of company-wide adjustments that took impact on Friday. He mentioned all of the adjustments had been “to enhance alignment throughout the enterprise and place Lowe’s for fulfillment.”

Its enterprise, which targets house professionals, akin to electricians and contractors, will now be operated in-store. Tony Hurst, senior vice chairman who oversees Lowe’s enterprise operations, will now report back to Joe McFarland, government vice chairman of Lowe’s shops. He beforehand reported on to Ellison.

Its on-line crew, which was beforehand led by Boltz, will now report back to the know-how crew as a substitute of the merchandise crew. Mike Shady, senior vice chairman on-line, will report on to Lowe’s chief digital and data officer, Seemantini Godbole.

Lowe’s CMO function was not stuffed. As an alternative, Lowe’s promoted Jen Wilson to senior vice chairman of company model and advertising, and she is going to report back to Boltz.

Shares of Lowe’s are down about 25% thus far this 12 months, closing Tuesday at $192.96.

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