Lowe’s CEO Marvin Ellison seems to be steering the company in a positive direction.
As AFROTECH™ previously reported, Ellison assumed the role in May 2018 and made history as the first Black executive to serve as CEO of two Fortune 500 companies. Throughout Ellison’s career, he has held positions as CEO of JCPenney, Director at Target, and later as Executive Vice President at The Home Depot. He recently celebrated seven years at Lowe’s in a LinkedIn post.
“I celebrated my 7-year anniversary at Lowe’s the same way I began — in the aisles of our stores. It was an honor to receive my service badge from the hard-working Associates at Store 2304 in Chicago, led by Store Manager Brian Smagacz, DM Tim Lucas and RVP Charles Reasonova. I thank God for his continued blessings & favor,” Ellison wrote on LinkedIn.
One of Ellison’s recent efforts and leadership initiatives is Lowe’s commitment to investing $50 million to train individuals in skilled trades.
“Lowe’s has committed $50 million, over five years, to train 50,000 individuals in skill trades. There is a critical shortage of skilled trades workers in the US and Lowe’s is honored to be part of the solution.” he wrote on LinkedIn.
The results of Ellison’s leadership are clear. In June 2025, Fortune reported that Lowe’s generated $83.7 billion in revenue and nearly $7 billion in profits. Ellison is now the top Black CEO leading a Fortune 500 company in 2025, joining a small group of nine Black leaders.
According to Billionaires Africa, Lowe’s — with more than 2,200 retail locations and nearly 300,000 associates across the U.S. and Canada — is performing strongly on the New York Stock Exchange (NYSE). The company’s stock rose 16.1% in a month from $215 on July 15 to $249.7. If the CEO still owns a reported 748,000 shares of Lowe’s stock, according to the outlet, that means his portion would have also risen from $160.8 million to $186.8 million.
Billionaires Africa reports that this was the second steep increase this year, as his stock increased by $5.8 million between June 18 and June 25, reflecting investors’ optimism.
