Lowe’s has appointed David M. Denton as EVP and Chief Financial Officer. Denton currently serves as EVP and CFO of CVS Health; he will join Lowe’s after CVS closes its acquisition of Aetna, which is scheduled for the second half of 2018. Denton will succeed Marshall A. Croom, who retires from Lowe’s in October 2018 after serving 21 years.
Denton will bring more than 25 years of finance and operational expertise to the home improvement retailer. At CVS, he is responsible for all aspects of financial planning and management. Since his appointment as CFO in 2010, Denton restructured CVS Health’s balance sheet and implemented a comprehensive capital allocation program designed to enhance shareholder value. He also played a role in the company’s pending acquisition of Aetna.
“Dave is a proven retail executive with expertise in finance, capital allocation and strategic planning,” said Marvin R. Ellison, CEO of Lowe’s in a statement. “Dave also has a strong background in large-scale transformation efforts and has achieved outstanding results throughout his tenure. “
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Before serving as CFO, Denton was SVP, President and Controller/Chief Accounting Officer at CVS. Prior to that, he served as CFO and Controller for PharmaCare, a subsidiary of CVS Health. Additionally, Denton has held positions in corporate treasury, financial planning and analysis and corporate finance at Deloitte and Touche.
