Lowe’s CEO awarded $17.9 million pay package in 2021

MOORESVILLE, N.C. — CEO Marvin Ellison got a $17.9 million compensation package from Lowe’s Cos. Inc. last year.

That’s down about 23% from his 2020 package — but still his second-highest total and more than his predecessor, Robert Niblock, ever made.

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Mooresville-based Lowe’s reported net income totaling $8.4 billion in fiscal 2021, up from $5.8 billion in fiscal 2020. Sales increased to nearly $96.3 billion from $89.6 billion a year prior.

Ellison’s 2021 base salary was $1.45 million, exactly what it has been for every full year since he became the CEO of Lowe’s in the summer of 2018, but other compensation varied.