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 announced Tuesday.
The home improvement retailer has reduced its role and moved its marketing team under Bill Boltz, executive vice president of merchandising. Thalberg previously reported directly to CEO Marvin Ellison.
Thalberg took office in February 2020, a month before the pandemic began, and fueled a surge in home improvement spending. She oversaw several high-profile campaigns, including TV commercials on ESPN during the NFL Draft, and an increased effort to capitalize on the holiday season.
Prior to joining Lowe’s, she was Global Brand Director at Taco Bell and worked for Estee Lauder, Unilever Cosmetics International and Revlon.
Lowe’s tapped the advertising executive to woo customers as the retailer reshuffled its broader business and took on more opposition to its biggest rival, Home Depot. Led by Ellison, who joined Lowe’s in 2018, the home improvement retailer has relaunched its website, launched a new loyalty program to chase money away from home professionals and expanded its merchandise line to include equipment for exercise, pet supplies and more home decor.
He also wanted to refresh his image and brought in Thalberg to oversee this. At the time of her hire, Ellison said Lowe hired her to put a more modern spin on Lowe’s marketing approach, such as personalizing social media messages for customers instead of relying on channels. traditional like television and radio.
Thalberg could not immediately be reached for comment.
His departure joins a growing wave of leadership changes in the retail industry. Gap, GameStop and Bed Bath & Beyond are among other retailers that have lost C-suite executives.
The management reshuffles have gained momentum as spending fueled by stimulus checks declines and some consumers pull back from discretionary purchases due to inflation. For some companies, especially big beneficiaries of the pandemic like Peloton, this has meant a sudden and dramatic drop in sales.
Lowe’s also experienced a downturn. Its same-store sales have declined over the past two quarters. The company said it now expects total and comparable sales for the year towards the bottom of its outlook range. He had forecast sales of $97 billion to $99 billion and comparable sales down 1% to 1%.
This story is developing. Please check for updates.