Lowe’s chief advertising officer Marisa Thalberg leaves firm in shakeup

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Marisa Thalberg, government vp and chief model and advertising officer.

Supply: Marisa Thalberg

Lowe’s chief advertising officer Marisa Thalberg has left the retailer as a part of a broader reorganization, the corporate stated Tuesday.

The house enchancment retailer has lower her position and moved its advertising staff below Invoice Boltz, government vp of merchandising. Thalberg beforehand reported on to CEO Marvin Ellison.

Thalberg’s departure is a part of a rising wave of management modifications within the retail trade. Hole, GameStop and Mattress Bathtub & Past are among the many different retailers who’ve misplaced C-suite executives. Such shakeups have gained steam as stimulus check-fueled spending wanes and a few shoppers pull again on discretionary purchases due to inflation. For some corporations, notably main pandemic beneficiaries like Peloton, it has meant a sudden and dramatic drop in gross sales.

Lowe’s, too, has seen a slowdown. Its same-store gross sales have declined up to now two quarters. The corporate stated it now expects whole and comparable gross sales for the 12 months towards the underside of its outlook vary. It had forecast gross sales of $97 billion to $99 billion and comparable gross sales to be down 1% to up 1%.

Thalberg stepped into the position in February 2020, a month earlier than pandemic started and fueled a surge of house enchancment spending. She oversaw a number of high-profile campaigns, together with TV commercials on ESPN in the course of the NFL Draft, and an expanded effort to capitalize on the vacation season.

Previous to becoming a member of Lowe’s, she was Taco Bell’s world chief model officer and labored for Estee LauderUnilever Cosmetics Worldwide and Revlon.

Lowe’s tapped the promoting government to woo prospects because the retailer overhauled its broader enterprise and went extra face to face with bigger rival, House Depot. Led by Ellison, who joined Lowe’s in 2018, the house enchancment retailer has relaunched its web site, debuted a brand new loyalty program to chase house professionals’ {dollars} and expanded its merchandise combine to incorporate train gear, pet provides and extra house decor.

It wished to refresh its picture, too, and tapped Thalberg to supervise that. On the time of her rent, Ellison stated Lowe’s employed her to place a extra fashionable spin on Lowe’s advertising strategy, resembling personalizing messages on social media for purchasers as a substitute of counting on conventional channels like TV and radio.

Thalberg couldn’t be instantly reached for remark.

Lowe’s stated Thalberg’s departure is certainly one of a number of company-wide modifications that took impact on Friday. It stated all modifications are meant “to enhance alignment throughout the enterprise and place Lowe’s for fulfillment.”

Its enterprise that caters to house professionals, resembling electricians and contractors, will now be below retailer operations. Tony Hurst, a senior vp who oversees Lowe’s professional enterprise, will now report back to Joe McFarland, Lowe’s government vp of shops. He beforehand reported on to Ellison.

Its on-line staff, which beforehand was below Boltz’s management, will now be below the know-how staff as a substitute of the merchandise staff. Mike Shady, senior vp of on-line, will report on to Lowe’s Chief Digital and Info Officer Seemantini Godbole.

Lowe’s CMO position has not been stuffed. As a substitute, Lowe’s has promoted Jen Wilson as senior vp of enterprise model and advertising, and she’s going to report back to Boltz.

Shares of Lowe’s are down about 25% thus far this 12 months, closing Tuesday at $192.96.

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