Lowe’s announced Tuesday that its chief financial officer, Robert Hull, will be succeeded by Marshall Croom, who has spent 30 years with the company.

Hull will retire after 17 years with Lowe’s, 14 as chief financial officer.

Previously, Croom served as Lowe’s chief risk officer for eight years. During this time he oversaw internal audits, loss prevention, information security and workers’ compensation.

Croom, 56, joined Lowe’s in 1997 following an 11-year career with Ernst & Young.

The new chief financial officer will work under Robert Niblock, president and chief executive officer.

“(Hull) played an integral role in the growth and success of Lowe’s transformation to an omni-channel home improvement company,” Niblock said in a statement. “We appreciate all that he has done for our company and wish him the best with his next chapter.”

Lowe’s operates or services 2,355 home-improvement and hardware stores in North America. The company announced last week it plans to lay off 2,400 of its full-time employees.

The company’s stock closed Tuesday up 0.32 percent to $72.38.