Lowe's announced Monday that CEO Robert Niblock will retire from the home improvement retailer as soon as the company finds a successor.
Its shares jumped more than 6 percent in premarket trading following the announcement.
"After a 25-year career at Lowe's, including 13 years as chairman and CEO, I am confident that it is the right time to transition the company to its next generation of leadership," the 54-year-old Niblock said in a statement.
He didn't retire... he was forced out by activist investors.
I understood today, he is getting fired and may face charges for "skimming"
Company got really soft to wussy Millennial's. All they do is cater to the weak and the cry babies now. Oh you hurt my feelings. You must be fired. You raised your voice to me. You must be fired. I know they are the up can coming generation but corporate has to treat them like some bad kids and teach them you don't work or show up you are fired. Too much pansy way of dealing with issues.
He developed the dangling carrot syndrome. Thinking people will jump trough hoops for a minimal bonus. Sorry nibbs. No one cares about a minimal bonus that's almost impossible to reach.
He has created a culture of Greed within Management -- will be really hard to change
He caused a lot of destruction the last few years. A lot of good people have lost their jobs because of him.
I say good riddance!
Good riddance. He wasn't doing anything for the company and was out of touch with what customers really wanted.
Bout dang time.. He's an out of touch 1 percenter that's is so far out of touch with reality of what's going on at the store he needed to leave. His old school buddy buddy exec management team needs a complete reboot
Got my answer. The question was "How long will Nibs last after the soft takeover." Even less time than I thought.