Lowe’s Companies Inc. announced three new appointments to its board of directors, taking effect March 22, according to a Securities and Exchange Commission filing

The appointments of two new board members and the nomination of a third come after “constructive discussions” with the D.E. Shaw group, a hedge fund with nearly a $1 billion stake in the home improvement retailer.

The appointments include David Batchelder, co-founder of Relational Investors; and Lisa Wardell, chief executive officer of Adtalem Global Education. The company will nominate Batchelder, Wardell and Brian Rogers, chairman of T.Rowe Price Group, for election at Lowe’s 2018 annual meeting of shareholders.

Batchelder was recommended by D.E. Shaw while Wardell and Rogers were the company’s candidates.

“We are pleased to welcome David, Brian and Lisa as new independent directors to the Lowe’s board and especially value the constructive discussions we have had with the D. E. Shaw group,” said Robert A. Niblock, Lowe’s chairman, president and CEO. “They join Lowe’s at an exciting time as we continue to drive our omni-channel strategy forward and build deeper relationships with pro customers to fulfill our purpose of helping people love where they live.”

D.E. Shaw also expressed pleasure regarding the nominees.

“We appreciate Lowe’s collaborative approach and are pleased to have worked together to enhance the company’s board of directors,” said Quentin Koffey, a portfolio manager at D. E. Shaw. “Lowe’s is an excellent company with tremendous value creation opportunities in front of it, and we believe the new directors will be significant assets to the board. We believe the refreshed board and the management team are committed to achieving outstanding performance and maximizing shareholder value.”

Lowe’s stock was up 1.7 percent Monday afternoon, trading at $106.77 per share.