The Executive Leadership Council (ELC), the preeminent global membership organization for Black CEOs, senior executives, board members, top-tier entrepreneurs, and global thought leaders, has announced that it will honor ELC member and Lowe’s Chairman and CEO Marvin Ellison with the 2022 ELC Achievement Award during its 36th Annual Recognition Gala taking place on October 6, 2022 at 6:00 pm at the Washington D.C. Marriott Marquis. The Achievement Award is presented to Black corporate executives whose business career achievements highlight personal and professional excellence.
“Marvin embodies the courage, tenacity and vision that The ELC works every day to instill in its scholars and future generations of Black executives and professionals,” said ELC CEO Michael Hyter. “His achievements are not only proof that anything is possible, but that investment in ideas, innovation, and inclusion, is profitable for the triple bottom line. Marvin serves as a source of pride for the Black community and for The ELC and we are honored to recognize his achievements.”
As only one of six Black Fortune 500 CEOs, and the only Black executive to serve as CEO of more than one Fortune 500 company, Ellison also stands out as one of its most effective leaders. Since his arrival at Lowe’s in 2018, the company has generated nearly $25 billion in incremental sales, while delivering total shareholder return of approximately 120%, as compared to approximately 44% for the S&P 500 over the same timeframe. Additionally, diversity and inclusion are a priority, with 50% of Lowe’s executive officers and over 50% of the Lowe’s board of directors being women and/or racially or ethnically diverse.
“The collective power of The ELC and its members to develop our future leaders and help them reach their highest potential is as important today as it has ever been,” Ellison said. “It’s an honor to receive this recognition and also to partner with the Council to continue the hard work that remains – to bring out the best in others and drive greater diversity across the business community.”
Ellison’s career spans over three decades, beginning at Target where he spent 15 years, first as a college student working security and later in a variety of operational and leadership roles. He went on to serve as executive vice president of U.S. Stores at Home Depot from 2008 to 2014, overseeing U.S. sales, operations, install services and pro strategic initiatives. At Home Depot, he was credited with dramatically improving customer service and efficiency across the organization.
Prior to joining Lowe’s, he served as chairman and CEO of J.C. Penney Co., where he delivered positive sales growth, reduced debt and generated positive adjusted earnings per share. He serves on the boards for FedEx Corporation and the Retail Industry Leaders Association, and he also serves on the board of trustees for the University of Memphis.
The ELC 36th Annual Recognition Gala is the organization’s most important fundraising event, supporting its scholarships, educational outreach and philanthropic initiatives and recognizing its mission, purpose and impact in action. This year’s gala highlights business achievement, honors corporate and individual award recipients, and delivers $1.5 million in scholarships to ELC Scholarship Program awardees. Johnson & Johnson returns as the Lead Sponsor of the 2022 Gala.News Source: PR Newswire