Marvin Ellison’s professional journey is perhaps one of the most inspiring success stories in corporate America. Long before he became president, CEO, and chairman of Lowe’s, Ellison made just $4.35 an hour working part-time at Target while studying at the University of Memphis. He began at Target working as a part-time store security guard. That security-guard job turned into a 15-year career at Target, where he eventually rose through the ranks to a director-level position. He worked there from 1987 to 2002.
All the Way Up
Looking back on his career, Ellison said he had mixed emotions. “On one hand, I feel incredibly privileged and blessed to be in this role because it gives me a chance to hopefully be a positive role model and create a pathway for other people who look like me,” he said in a November 2022 interview with Daymond John. But he added that he was “really disappointed that … we still have such a significant gap in the capability that exists out there and the opportunities of individuals that look like me to be in a role like this.”
Ellison often credited his rise to a willingness to outwork competitors and accept roles others avoided. He said he “grinded it out for 15 years” at Target before moving into the home-improvement industry. “I didn’t have great pedigree, I didn’t have an Ivy League education. I didn’t have any stellar international opportunities or stints on my résumé,” he said. “I had to find a way to differentiate myself.”
From Target he became vice president of Loss Prevention at The Home Depot, where he spent 12 years. He had various senior roles there, including serving as executive vice president of U.S. stores from 2008 to 2014. His leadership caught the attention of J.C. Penney, where he later became chairman and CEO, before Lowe’s recruited him in 2018 to lead the $127 billion home-improvement giant as CEO, making him one of the few Black Fortune 500 CEOs. He was promoted to chairman, president in addition to his CEO role in 2021. He also took on the additional role of chairman in 2021.
He also earned an MBA from Emory University and joined the board of directors for FedEx.
Under Ellison, Lowe’s stressed innovation, including more than 50 active AI models aimed to improve sourcing logic, inventory planning, pricing, and customer experience. “We’re preparing to be at our best when the cycle turns up,” he said in a May 2024 CNBC interview. “When it happens, we’re going to take meaningful market share based on the work and investments we’ve put into the business.”
Ellison also took a hands-on approach to expanding opportunities for underrepresented professionals. “Talk less and do more,” he said. Lowe’s strengthened supplier diversity programs and invested in leadership development that valued results and behavior over pedigree. “Now we’re creating this pipeline of talent throughout the organization,” Ellison said. “That’s a transitional change for us.”
