Lowe's COO Retiring; Replacement Named

Richard Maltsbarger | Credit: Lowe's Companies, Inc.

Lowe's Companies, Inc. announced last week that Richard D. Maltsbarger, the company's current chief development officer and president, international, has been appointed chief operating officer (COO), effective Feb. 3. Maltsbarger will succeed Rick D. Damron, who will retire in February after 36 years with the company. Damron has served as COO since 2012.

In his new role, Maltsbarger will be responsible for delivering seamless omnichannel experiences in order to execute Lowe's brand promise, as well as to build lasting customer loyalty. He will oversee areas including store operations, supply chain, pro and services, while also working closely with Michael P. McDermott, chief customer officer, to further enhance Lowe's omnichannel customer experience. Maltsbarger will continue to report to Robert A. Niblock, chairman, president and CEO of Lowe's.

Maltsbarger joined Lowe's in 2004 as director of customer analytics, and since then has held various senior leadership roles, including business development executive, senior vice president of strategy, vice president of strategic planning, and vice president of research. He was named chief development officer in 2014, and president, international in 2015. In his current role, Maltsbarger is responsible for corporate strategy, business development and international operations.