MOORESVILLE, N.C., Aug. 22, 2018 /PRNewswire/ -- Lowe's
Companies, Inc. (NYSE: LOW) today announced the appointment of David M. Denton as executive vice
president, chief financial officer. Denton currently serves as executive vice president and CFO of CVS Health (NYSE: CVS) and
will join Lowe's shortly after the closing of the CVS acquisition of Aetna, which is expected in the second half of 2018.
Denton brings to Lowe's more than 25 years of finance and operational expertise. At CVS, he is responsible for all aspects of
financial planning and management. Since being appointed CFO in 2010, Denton has successfully restructured CVS Health's balance
sheet and implemented a comprehensive capital allocation program designed to enhance shareholder value. Denton has also played an
instrumental role in the company's pending acquisition of Aetna.
"We are pleased to add a leader of Dave's caliber to the Lowe's team," said Marvin R. Ellison,
Lowe's president and CEO. "Dave is a proven retail executive with expertise in finance, capital allocation and strategic
planning. Dave also has a strong background in large-scale transformation efforts and has achieved outstanding results throughout
his tenure. I am confident that Dave will play a key role as we accelerate growth, profitability and return on capital at
Lowe's."
"I am honored to join Lowe's and look forward to working with Marvin and the talented Lowe's team to further enhance the
company's financial and operational performance, while strengthening our competitiveness in this evolving retail environment,"
said Denton.
Denton succeeds Marshall A. Croom, whose retirement was previously announced.
Ellison said, "On behalf of the entire Lowe's board of directors, I would like to thank Marshall for his contributions to
Lowe's over the past 21 years. We wish him all the best in the future."
About David M. Denton
David Denton currently serves as executive vice president and CFO of CVS Health, and
previously served as senior vice president and controller/chief accounting officer. Prior to that, Denton served as CFO and
controller for PharmaCare, CVS Health's legacy pharmacy benefits manager subsidiary. Additionally, he has held positions in
corporate treasury, financial planning and analysis and corporate finance. Before joining CVS Health, Denton was with the
management consulting firm of Deloitte and Touche.
Denton is currently a director of Tapestry, Inc. and is chairman of the company's audit committee. Denton received his MBA
from the Babcock Graduate School of Management at Wake Forest University and his undergraduate degree
in Business Administration from Kansas State University.
About Lowe's
Lowe's Companies, Inc. (NYSE: LOW) is a FORTUNE® 50 home improvement company serving more than 18 million customers a
week in the United States, Canada and Mexico. With fiscal year 2017 sales of $68.6 billion, Lowe's and its related
businesses operate or service more than 2,390 home improvement and hardware stores and employ over 310,000 people. Founded in
1946 and based in Mooresville, N.C., Lowe's supports the communities it serves through programs
that focus on K-12 public education and community improvement projects. For more information, visit Lowes.com.
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SOURCE Lowe's Companies, Inc.