Type larry ellison and kathy warden into a search bar, and you’ll see an odd mix of results. Some link to Oracle’s co-founder. Others point to the CEO of Northrop Grumman. And plenty of readers actually want the leader of Lowe’s, Marvin Ellison.
Here’s the quick way to sort it out. Larry Ellison built Oracle, the database software giant. Marvin Ellison runs Lowe’s, the home improvement chain. Kathy Warden leads Northrop Grumman, a major U.S. defense contractor. Three different people, three different worlds.
This guide covers Marvin Ellison and Kathy Warden in depth. You’ll get their backgrounds, their leadership records, the real pay figures from company filings, and a straight answer on whether the two are connected.
Quick Facts at a Glance
| Detail | Marvin Ellison | Kathy Warden |
|---|---|---|
| Company | Lowe’s Companies | Northrop Grumman |
| Industry | Home improvement retail | Aerospace and defense |
| Current role | Chairman, President and CEO | Chair, CEO and President |
| CEO since | July 2018 | January 2019 |
| Education | University of Memphis (business) | James Madison University; MBA, George Washington University |
| Latest reported annual pay | $21.58 million (fiscal 2025) | About $24.4 million (2024) |
| Disclosed share holdings | About $65 million (2025 estimate) | About $100 million (June 2026) |
Ready for the full picture? Let’s start with the retail veteran.
Who Is Marvin Ellison?
Marvin Ellison is one of the most recognized retail executives in America. He’s 60 years old as of 2026. He chairs the board at Lowe’s and also serves as its president and CEO.
His story isn’t about overnight luck. It’s about decades spent learning how stores really work. And that matters, because retail rewards leaders who understand what happens on the floor.
Early Life and Education
Ellison studied business at the University of Memphis. That degree gave him the foundation for a career built on operations, store performance, and people management.
He has kept his childhood out of the spotlight. You won’t find a polished origin story in his interviews. What the record does show is a steady, practical climb, one that started with ordinary entry-level retail work and never skipped a rung.
Think of it like learning to cook in a restaurant kitchen rather than a classroom. You pick up the heat, the timing, and the chaos. Later, when you run the whole restaurant, you already know what a bad Friday night feels like.
How Did Marvin Ellison Build His Career?
Ellison’s resume reads like a tour of American big-box retail. He started in loss prevention at Target. That job teaches you how stores lose money, from theft to process gaps. It’s a sharp lens on operations.
Next came a long run at Home Depot, roughly 13 years. He rose into senior store leadership there. Home Depot is Lowe’s biggest rival, so he learned the competition from the inside.
Then he took the top seat at J.C. Penney. The department store chain was struggling, and he led it until 2018. That role made him the first Black executive to lead two different Fortune 500 companies. Fortune’s 2025 list counted only nine Black CEOs across the entire Fortune 500, so the milestone carries real weight.
Here’s the career path in one glance:
- Target: loss prevention and store operations roles
- Home Depot: about 13 years, rising to senior leadership over U.S. stores
- J.C. Penney: CEO through 2018
- Lowe’s: CEO since July 2, 2018
The J.C. Penney years were tough. The chain faced shrinking mall traffic and heavy debt. Still, the experience taught him how to run a company under pressure. He brought those lessons to Lowe’s.
Marvin Ellison’s Leadership at Lowe’s
Ellison took over Lowe’s on July 2, 2018. At the time, the company trailed Home Depot on profit margins and store execution. Closing that gap became his central mission.
Today, Lowe’s is a giant. The 2025 Fortune 500 list ranked it No. 52. It employs about 300,000 people and reported roughly $83.67 billion in revenue with nearly $7 billion in profit.
So what did Ellison change?
He simplified the business. Lowe’s sold or exited side ventures that distracted from the core. That included its Canadian retail operation.
He sharpened store operations. Better inventory systems, tighter pricing, and cleaner store layouts all aimed at one goal: making the shopping trip easier.
He chased professional customers. Contractors and builders spend far more per year than the average weekend DIYer. Lowe’s has pushed harder into this “Pro” market, and 2025 brought major acquisitions in building materials and specialty installation.
He invested in technology. Digital tools, better supply chain data, and online ordering all got more money.
His supply chain moves stand out in 2025. Lowe’s said about 60% of its supply purchases came from domestic sources, with roughly 20% from China. That shift helped soften the sting of tariffs.
Results haven’t been perfectly smooth. Same-store sales dipped 1.7% in the first quarter of 2025. High interest rates also cooled housing activity, which hurts big renovation projects. Even so, Lowe’s kept delivering strong profits. That’s the sign of a disciplined operator.
Case Study: The Margin Gap
When Ellison arrived, Lowe’s operating margin sat well below Home Depot’s. Over the following years, Lowe’s margin climbed into the double digits. The jump came from fewer distractions, tighter costs, and better product mix. It shows how focus can beat flashy strategy.
Who Is Kathy Warden?
Kathy Warden leads one of the most important companies in American national security. Northrop Grumman builds stealth bombers, missile systems, satellites, and space hardware. Its workforce numbers around 100,000 people, and annual sales run above $40 billion.
She’s also one of the few women running a top U.S. defense prime. General Dynamics’ Phebe Novakovic is the other. Together, they’re a small club in a field that was male-dominated for decades.
Education and Professional Background
Warden earned her undergraduate degree at James Madison University. She later completed an MBA at George Washington University. Both schools sit in the Virginia and Washington, D.C., orbit, which fits a career tied to government customers.
Her early jobs weren’t in defense at all. She worked at General Electric, including its information services business. That’s where she learned how technology companies serve large, demanding clients.
Then came stops at Veridian and General Dynamics. Veridian worked in intelligence and security technology. At General Dynamics, she became a vice president in intelligence systems. These roles gave her deep knowledge of the intelligence community, a major customer base for defense firms.
Think of it as collecting puzzle pieces. Each job added a different skill: tech, intelligence, and program management. Later, Northrop needed someone who combined them.
How Did Kathy Warden Become CEO?
Warden joined Northrop Grumman in 2008. Her first big role involved cyber and intelligence work. Cyber was exploding as a priority, and she grew with it.
Her rise looked like this:
- 2008: joined Northrop in a cyber intelligence leadership role
- Mid-2010s: ran major business units, including Mission Systems
- September 2017: became president and chief operating officer
- January 2019: became CEO, succeeding Wes Bush
Between 2017 and 2019, she worked alongside the outgoing CEO. That handoff gave the board time to watch her in action. It also gave Northrop’s employees and customers continuity.
Her timing mattered too. In 2018, Northrop closed its purchase of Orbital ATK for about $9.2 billion, including debt. The deal added rocket motors, space systems, and munitions to the portfolio. As COO and then CEO, Warden helped guide the integration.
Kathy Warden’s Role at Northrop Grumman
Warden holds three titles: chair, CEO, and president. That’s a lot of authority in one person. It also means one person answers to the board for everything from strategy to safety.
Her portfolio includes some of the most closely watched defense programs in the country:
- B-21 Raider: a next-generation stealth bomber for the U.S. Air Force
- Sentinel: a long-term program to modernize land-based nuclear missiles
- Space systems: satellites, launch components, and the maker-level work behind the James Webb Space Telescope
- Cyber and mission systems: radar, sensors, and electronic warfare tools
Outside Northrop, she serves on several boards. She’s a director at Merck (since 2020), the chair of the Federal Reserve Bank of Richmond, and a member of the Business Roundtable. She also supports groups like Catalyst and the Wolf Trap Foundation for the Performing Arts.
Defense leadership isn’t like retail. A late order here can affect national security. Contracts last for decades. Public scrutiny is intense. Warden has to balance engineers, lawmakers, military customers, and investors all at once.
Marvin Ellison and Kathy Warden: Key Differences
On paper, these two executives look similar. Both run huge companies. Both earn eight-figure pay packages. But once you look closer, the differences jump out.
Different Industries and Responsibilities
Ellison sells to millions of shoppers. Warden sells to a handful of governments.
That single contrast shapes everything. Lowe’s lives on foot traffic, weather, interest rates, and housing trends. If mortgage rates rise, fewer people remodel kitchens. Sales slow down fast.
Northrop lives on contracts. A major win can lock in revenue for 20 years. A program delay can cost billions. The customer is the U.S. government, which means budgets, politics, and oversight sit at the center of every decision.
Here’s a side-by-side look:
| Factor | Lowe’s (Ellison) | Northrop Grumman (Warden) |
|---|---|---|
| Customers | Homeowners and professional contractors | U.S. military, intelligence agencies, allies |
| Sales cycle | Daily, seasonal | Multi-year, decades-long |
| Biggest risk | Housing slowdowns and consumer spending | Budget swings and program execution |
| Competitors | Home Depot | Lockheed Martin, RTX, Boeing, General Dynamics |
| Key metric | Same-store sales | Backlog and program milestones |
| Public scrutiny | Moderate | Very high |
Comparing Their Leadership Experience
Ellison has now led two public companies. J.C. Penney came first. Lowe’s followed. Each turnaround taught him something different. One was a rescue mission. The other was a push to catch a stronger rival.
Warden has led one company, but she rose through it. She knows its people, its factories, and its customers from the inside. That insider status builds trust, especially in a field where relationships matter.
Their styles reflect those paths:
- Ellison: an operator who fixes stores, supply chains, and margins
- Warden: a program strategist who manages long, complex builds
Neither style is better. A retail CEO who ignored daily operations would stumble. A defense CEO who ignored long-term planning would, too.
What Do Marvin Ellison and Kathy Warden Have in Common?
Despite the contrasts, the overlap is real. Both leaders face the same core job: steer a very large organization through uncertain times. And both do it under the glare of investors, the press, and the public.
Strategic Planning and Decision-Making
Both executives plan in long arcs. Ellison invests in supply chains and Pro services that pay off over years. Warden backs programs like the B-21 that take a decade to mature.
They also share a few habits:
- They focus on core strengths. Ellison trimmed side businesses. Warden doubled down on space, cyber, and aeronautics.
- They respond to outside shocks. Tariffs hit Lowe’s. Budget fights and executive orders hit defense.
- They tie pay to performance. Most of each leader’s compensation comes from stock and incentive awards rather than base salary.
Consider how each handles risk. Ellison diversified Lowe’s sourcing away from one country. Warden diversifies Northrop’s work across air, space, land, and cyber. Different tools. Same idea.
Managing Large Organizations
Running a 300,000-person retailer isn’t simple. Neither is guiding a 100,000-person defense company. Both leaders must keep culture healthy, standards high, and communication clear.
Both also hold outside board roles. Ellison has served as a FedEx director since 2014. Warden sits on Merck’s board and chairs the Richmond Fed. Those seats expose them to other industries, which sharpens their judgment at home.
Peter Drucker, the famed management thinker, put it well: “Management is doing things right; leadership is doing the right things.” Both executives have to do both every single day.
Are Marvin Ellison and Kathy Warden Connected?
Short answer: no. Public records show no business partnership, family tie, or joint project between the two.
Is There a Professional Relationship Between Them?
Lowe’s and Northrop Grumman don’t compete. They don’t share customers. They don’t work on common contracts. A homeowner buying a ladder and an Air Force program office buying a bomber never meet in the same marketplace.
It’s possible the two have crossed paths at CEO forums or business events. Top executives often do. But a handshake at a conference isn’t a professional relationship. Nothing in public filings or major reporting points to a formal link.
Why Are People Comparing Them?
Search behavior explains most of it. Here are the main reasons:
- Shared name confusion. Many people mix up Marvin Ellison, Larry Ellison, and other well-known “Ellisons.” A search for larry ellison and kathy warden often blends all of them.
- Pay rankings. Both appear in lists of well-paid CEOs, so articles place them side by side.
- Visibility. Both lead household-name companies and appear in Fortune and business news.
- Curiosity about leadership paths. Readers like comparing a retail turnaround artist with an insider who climbed a defense giant.
It’s also worth separating Larry Ellison clearly. He co-founded Oracle in 1977 and serves as chairman and chief technology officer. He’s a founder-billionaire who has ranked among the wealthiest people on Earth, including a surge near the top of global rankings in 2025. Marvin Ellison is a different person with a different career. They aren’t known to be related.
Personal Life and Public Information
Executives at this level guard their privacy. You won’t find tabloid drama around either leader. That’s a good sign. It usually means attention stays on the business.
What Is Publicly Known?
For Marvin Ellison, the confirmed public facts include:
- He’s 60 years old (2026).
- He holds a business degree from the University of Memphis.
- He chairs Lowe’s and has served as CEO since 2018.
- He’s been a FedEx director since 2014.
- He led J.C. Penney before Lowe’s.
- Fortune recognized him as one of nine Black CEOs on the 2025 Fortune 500.
For Kathy Warden, the confirmed public facts include:
- She graduated from James Madison University.
- She earned an MBA from George Washington University.
- She has been CEO of Northrop Grumman since January 2019.
- She chairs the board and serves as president.
- She’s a Merck director and chairs the Federal Reserve Bank of Richmond.
- She sits on boards tied to Catalyst and Wolf Trap.
Both leaders discuss family and personal matters sparingly. Rather than guess at private details, it’s smarter to stick with what filings, company bios, and credible reporting confirm. That approach keeps facts clean.
Net Worth and Compensation
Money questions drive a lot of clicks. So let’s dig in with real numbers from company filings. One note first: reported pay isn’t the same as take-home cash. Much of it is stock awards valued on the grant date. Actual value changes as share prices move.
Marvin Ellison Net Worth and Pay
Lowe’s 2026 proxy statement shows Ellison’s total pay for fiscal 2025 at $21,581,889. Here’s how that breaks down:
| Pay Component | Amount |
|---|---|
| Base salary | $1,544,231 |
| Stock awards | $12,480,467 |
| Option awards | $4,262,895 |
| Annual incentive (cash) | $3,232,693 |
| All other compensation | $61,603 |
| Total | $21,581,889 |
Only about 7% came from salary. The rest depends on performance and stock value. The annual cash incentive paid out at 104.67% of target, which tells you Lowe’s slightly beat its goals.
Ellison’s reported pay has moved like this over recent years:
| Fiscal Year | Total Reported Pay |
|---|---|
| 2020 | $23,075,881 |
| 2021 | $17,871,716 |
| 2022 | $17,472,005 |
| 2023 | $18,162,272 |
| 2024 | $20,164,912 |
| 2025 | $21,581,889 |
Add those six years, and reported compensation totals about $118.3 million. Again, that’s grant-date value before taxes. Still, it shows the scale of his earnings.
His direct Lowe’s share ownership stood near 0.04% of the company. In 2025, that stake was valued around $65 million. So when you hear Marvin Ellison net worth figures, that disclosed stake is a solid floor to start from.
The pay ratio adds context. Lowe’s median associate earned $37,371 in 2025. Ellison’s pay was about 578 times higher. That ratio draws criticism from labor advocates. Defenders argue the pay is tied to the company’s performance and the size of the job.
Kathy Warden Net Worth and Pay
Warden’s compensation runs a bit higher. Her total pay for 2024 was reported near $24.4 million. Her base salary was about $1.79 million, which is only around 7% of the total. Stock awards made up roughly $16.1 million.
That total placed her among the top-paid CEOs in defense. It also edged ahead of Lockheed Martin chief Jim Taiclet, who earned roughly $23.5 million in the same period.
Then came a notable 2026 event. On August 19, 2026, Northrop’s independent directors approved a one-time performance equity award for Warden. Here’s how it works:
- Target: 35,910 market stock units
- Payout range: 0% to 150% of target
- Performance window: ends December 31, 2031
- Target payout trigger: stock price must rise at least 10%
- Maximum payout: requires 50% or more stock appreciation
- Zero payout: if the stock falls more than 25%
- Condition: she generally must stay with the company through the period
In plain English, the board is saying: “Stay, and help the stock climb.” If shares drop, the award shrinks or vanishes. That’s a retention tool with built-in risk.
As for her holdings, market data in mid-2026 showed Warden owning about 196,681 Northrop shares, roughly 0.14% of the company. Those shares were valued at about $100 million on June 30, 2026. That makes Kathy Warden net worth, at least from disclosed stock alone, around the nine-figure mark.
Are Their Net Worth Figures Verified?
Here’s the honest scorecard:
| Figure | Reliability |
|---|---|
| Ellison’s annual pay (fiscal 2025) | High. Comes from the company proxy filed with the SEC. |
| Warden’s pay and the August 2026 award | High. Backed by Northrop’s SEC disclosures. |
| Disclosed share holdings | Good. Based on filings, but values move daily. |
| Total “net worth” headlines | Estimates. They mix stock, cash, property, and guesswork. |
Many websites toss out round numbers with no source. Some list Warden’s investments at far less than her disclosed stock alone. That’s a red flag. Disclosed shares already top those figures.
A smarter way to judge any celebrity net worth claim:
- Check the filing. Proxy statements and insider reports are the gold standard.
- Separate pay from wealth. Earnings are one thing. Savings, taxes, and spending are another.
- Watch stock prices. A stake worth $100 million on Monday can swing by millions by Friday.
- Ignore unsourced round numbers. If no one can say where it came from, skip it.
For both leaders, the verified numbers point the same way. Each holds tens of millions in company stock and has earned well into eight figures per year.
Leadership Lessons From Their Careers
You don’t need to run a Fortune 500 company to learn from these two. Their paths hold practical lessons for managers, founders, and anyone climbing a career ladder.
The Value of Professional Experience
Ellison and Warden both show that deep experience beats shortcuts.
Ellison learned retail from the ground up. Loss prevention at Target taught him how stores bleed money. Years at Home Depot taught him how winners operate. J.C. Penney taught him how to survive a storm. By the time Lowe’s called, he’d seen almost every retail problem.
Warden learned defense from the inside out. She moved through cyber, mission systems, and operations. When she reached the top, she knew the programs, the people, and the pressure points.
What can you take from this?
- Learn the whole business. Rotate through roles if you can.
- Seek tough assignments. Turnarounds and integrations build skill fast.
- Build relationships early. Trust takes years to earn.
- Stay curious. Both leaders sit on outside boards to see other industries.
Case Study: The Orbital ATK Integration
Northrop’s $9.2 billion purchase of Orbital ATK added rocket motors and space systems. Big acquisitions often fail because cultures clash and systems don’t match. Warden’s team kept programs on schedule while merging operations. The deal stands as a lesson in patient integration over splashy headlines.
Adapting to Industry Challenges
Every industry throws curveballs. Great leaders adjust.
Ellison faced these headwinds:
- Rising interest rates, which slowed housing turnover and big remodels
- Tariffs, which pressured product costs
- Competition from Home Depot, which had a strong head start
- A cooling DIY boom after the pandemic surge
His responses included supply chain diversification, a stronger Pro focus, and tighter cost control. Think of it like adjusting a sailboat to the wind. You can’t change the weather. You can change your sails.
Warden faced a different storm:
- Large, complex programs with cost and schedule risks
- Budget debates in Washington
- Heavier scrutiny in 2026 on defense contractor pay and shareholder payouts
- Supply chain strain for specialized parts and skilled labor
Her answer has been steady execution. Deliver on programs, invest in workforce, and keep customers confident. Performance-based pay tied to stock returns also signals alignment with shareholders.
The common thread? Stay flexible without losing your core. Ellison didn’t abandon home improvement. Warden didn’t abandon national security. Each adapted the plan while protecting the mission.
Here’s a quick checklist you can borrow:
- Name your core strength and protect it.
- Cut distractions that dilute focus.
- Diversify risks where you can.
- Tie rewards to results.
- Keep learning from outside your industry.
Frequently Asked Questions
Who Earns More, Marvin Ellison or Kathy Warden?
Based on the latest reported figures, Warden’s 2024 pay of about $24.4 million edges past Ellison’s fiscal 2025 pay of $21.58 million. Different years and different pay structures make direct comparisons tricky. Both are firmly in the top tier of CEO compensation.
Are Marvin Ellison and Kathy Warden Related?
No. Public records show no family connection or business partnership between them.
Is Marvin Ellison the Same Person as Larry Ellison?
No. Larry Ellison co-founded Oracle and works in enterprise software. Marvin Ellison leads Lowe’s. They’re separate people with separate careers.
Who Runs Lowe’s in 2026?
Marvin Ellison serves as chairman, president and CEO. He’s held the CEO job since July 2018.
Who Runs Northrop Grumman in 2026?
Kathy Warden serves as chair, CEO and president. She became CEO in January 2019.
What Makes Their Pay Packages Different From Typical Salaries?
Most of it comes from stock and incentive awards. Salary makes up only about 7% of each leader‘s total. That structure ties their earnings to company performance.
Final Thoughts
Marvin Ellison and Kathy Warden lead very different companies. One sells hammers, paint, and appliances to millions of homeowners. The other builds stealth bombers and spacecraft for the government. Yet both guide huge organizations through tough conditions.
Here are the big takeaways:
- They aren’t connected. No public evidence shows a partnership or family link.
- The pay is public. Ellison earned $21.58 million in fiscal 2025. Warden’s 2024 pay was around $24.4 million, with a major equity award added in August 2026.
- Wealth is mostly stock. Disclosed holdings run roughly $65 million for Ellison and $100 million for Warden.
- Their careers teach real lessons. Deep experience, focus, and flexibility drive results.
- Name confusion is common. When people search larry ellison and kathy warden, they often mean Marvin Ellison or mix up two very different executives.
The best habit you can build? Check filings before you trust a headline. Numbers move, and titles change. Fresh data wins.
Whether you’re a student of leadership, an investor, or just curious, these two careers offer plenty to chew on. Pick one habit from each. Learn your business from the inside, as Warden did. Then fix what’s broken with patience, as Ellison has. That combo works in almost any field.
