The board of directors for Lowe's Companies Inc. announced it has appointed James H. Morgan, 67, to the company's board, effective immediately. Morgan is chairman of Krispy Kreme, having served as the company's CEO from 2008 to 2014, on its board of directors since 2000, and as its chairman since 2005. He has extensive experience in the financial services area, having served as chairman and CEO of Wachovia Securities Inc. and chairman and CEO of investment banking and brokerage firm Interstate/Johnson Lane.

He is also on the board of directors of Coca-Cola Bottling Co. Consolidated. Morgan will serve on the Audit and Governance committees of the board.

He will stand for election at Lowe's 2015 annual meeting of shareholders.