News

Lowe’s creates chief digital officer position

BY HBSDealer Staff

Lowe’s Cos. has appointed Vikram Singh to the newly created role of senior vice president and chief digital officer.

The move is effective Jan. 4, 2018. Singh will report to Michael McDermott, Lowe’s chief customer officer.

In the new position, Singh will be responsible for accelerating Lowe’s digital evolution and drive a holistic integrated strategy to make shopping more flexible, convenient, and intuitive across its store, online, mobile, call center and through the in-home and on-site channel, the company said.

“We’re making strategic investments in digital to become even faster at anticipating customer needs and providing relevant solutions leveraging technology,” McDermott said. “Digital is the fabric of a fully integrated customer experience, from project inspiration to customer relationship management to how we present products and services and create engaging content. We’re excited to have Vikram at the helm leading the next stage of our digital journey.”

Singh joins Lowe’s most recently from Amazon and brings experience across product strategy, engineering, marketing, business development, analytics, operations, and user experience design. Singh also held positions at eBay, PayPal and Fujitsu.

Singh will focus on enhancing operational effectiveness to better facilitate fully integrated digital initiatives across core business functions, including supply chain and marketing, Lowe’s added.

This marks the third executive appointment made by Lowe’s in recent weeks. Sylvain Prud'homme was appointed to the position of president of international business, including Lowe’s Canada and Mexico, effective Dec. 15. Lowe’s also named a new chief operating officer, Richard Maltsbarger, succeeding Rick Damron who is retiring after 36 years

Based in Mooresville, N.C., Lowe’s operates more than 2,300 stores in the United States, Canada and Mexico. 

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Henry wraps up a deal with Fortifiber

BY HBSDealer Staff

Henry Company, maker of Building Envelope Systems, will acquire Fortifiber, based in Fernley, Nev. The latter is a manufacturer of weather-resistive moisture management systems, including housewrap, building paper and flashing tapes.

“This acquisition strengthens our Residential Building Envelope Systems portfolio of products and enables Henry to provide enhanced weather-resistive solutions for our customers,” said Frank Ready, CEO of Henry Company. “We are excited to have Fortifiber as part of the Henry family and are looking forward to providing customers with these innovative building performance technologies.”

Fortifiber flashing products address moisture intrusion around windows and doors – the most common areas for leaks – and include FortiFlash, Moistop, and Moistop E-Z Seal brands, offering a suite of flashing products in both mechanically fastened and self-adhesive applications.

Chris Yount, President of Fortifiber said: “The Fortifiber team is energized by the opportunity to join Henry. The acquisition will accelerate the expansion of innovative Fortifiber brands designed to protect and enhance the building envelope. Being part of Henry will provide a solid platform for future growth outside of our core geographies of the Western and Southwestern United States, where we have become an established leader in building envelope systems.”

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HBSDealer Stock Watch: Tuesday’s mixed market

BY HBSDealer Staff

Most of the home improvement industry stocks retreated Tuesday, with a handful of exceptions. The day’s biggest percentage gainers were HBP, LOW and TSCO. In the other direction, TREX, EXP and JELD led decliners.

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