RETAIL & WHOLESALE.

MARVIN ELLISON

president, CEO | Lowe's

Mooresville

Ellison has become one the nation's most highly touted executives since he was named the top executive at the hardware-store chain in 2018. Since then, he's revamped the company's management team and culture and invested heavily in digital services to better compete with rival Home Depot.

The Memphis University graduate and Emory University MBA has a strong competitive streak, having been bypassed for the CEO job at Home Depot before taking the top spot at JC Penney. While he had limited success during his three years at the department store chain, Lowe's picked him to succeed Robert Niblock at the Mooresville-based company.

From 2016-18, before Ellison arrived, Lowe's' net income averaged about $2.9 billion. Over the past three years, from 2020-22, the company's profit has averaged $6.9 billion, aided by massive increases in remodeling and home improvements during the pandemic.

In 2021 Barron's rated Ellison as one of its "Top CEOs." This year, the National Retail Federation gave Ellison its "The Visionary" award for driving positive change within the retail industry, specifically noting his support of Lowe's communities and front-line workers through the pandemic. That award has been given to many famous retail industry leaders including the CEOs of Walmart and Target.

Ellison leads a team of more than 300,000 associates and about 2,200 stores across the U.S. Earlier this year, the company sold approximately 450 stores it had operated in Canada.

Lowe's still trails Home Depot in some key metrics, including an operating profit margin that was about five percentage points lower in the past year. Ellison is working to change that.

DAVID ALEXANDER president | JT Alexander & Son and Home Run Markets

Statesville

A third-generation family owner, Alexander acquired the convenience-store business in 2010 from his father, Tom, after joining the organization in 1994. The first of 18 Home Run Markets stores opened in Mooresville in 2011. It started in 1935 with a Texaco station in Mooresville.

JOHN CATO

CEO, chairman, president | Cato Corp.

Charlotte

The UNC Charlotte graduate is a third-generation CEO at the apparel retailer formed by his grandfather, father and uncle in 1946. He's been the public company's leader since 1999, overseeing 1,320 stores in 32 states. The company broke even in 2022 on revenue of $759 million.

LISA COOPER

president | Mast General Store

Valle Crucis

She was 11 when her parents, John and Faye Cooper, purchased the original Watauga County store in 1979. It's now a popular chain with 11 locations in four states. She has a bachelor's degree in accounting from UNC Charlotte. Employees receive an annual bonus that has averaged...