Ex-McDonald’s president joins Lowe’s board

By Associated Press
Posted Aug. 20, 2010 at 1:39 p.m.

Home improvement retailer Lowe’s Cos.  announced Friday the appointment of Raul Alvarez, former president and chief operating officer of McDonald’s Corp., to its board. He will serve on the board’s governance and audit committees.
With Friday’s announcement, Lowe’s board increases to 12 directors, 11 of whom are independent, Lowe’s said in a release.

Alvarez was president and COO of McDonald’s from 2004 until his retirement in December 2009. He joined McDonald’s in 1994 and held a variety of leadership positions during his tenure, including president of the North America and U.S. divisions as well as president of McDonald’s Mexico.

Before joining McDonald’s, Alvarez held several leadership positions at both Wendy’s International Inc. and Burger King Corp.

Lowe’s, based in Mooresville, N.C., is the second-largest home improvement retailer behind Home Depot Inc.

Shares of the company rose 39 cents, to $20.48, midday Friday.

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