Krispy Kreme exec named to Lowe's board

The board of directors for Lowe's Companies has welcomed James Morgan, chairman of Krispy Kreme, to its ranks.

"With his career in publicly held retail, consumer products and financial services companies, Jim brings deep and relevant experience to our board," said Robert Niblock, Lowe's chairman, president and CEO. "Jim will be a valuable resource as we continue our transformation to an omni-channel home improvement company focused on differentiating through exceptional customer experiences. The board and I look forward to working with him."

Morgan previously served as Krispy Kreme CEO from 2008 to 2014 and has been on its board of directors since 2000. He has been serving in chairman capacity since 2005.

His resume also includes various executive roles at companies in the financial services industry, such as Wachovia Securities (where he served as chairman and CEO) and investment banking and brokerage firm Interstate/Johnson Lane (where he was also chairman and CEO).

He also currently serves on the Coca-Cola Bottling Co. Consolidated board.

Morgan will be serving on Lowe's Audit and Governance committees and will stand for election at the 2015 annual meeting of shareholders.

With his appointment effective immediately, the Lowe's board is now 12 members strong, with 11 of them independent.