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(Reuters) - U.S. home improvement chain Lowe’s Companies Inc (LOW.N) said on Monday Chief Executive Officer Robert Niblock will retire and the board has started a search for his replacement.

FILE PHOTO - An employee stands outside a Lowe's home improvement chain in Austin, Texas, U.S., February 27, 2017. Picture taken February 27, 2017. REUTERS/Mohammad Khursheed

Niblock, also the chairman and president of the board, took the helm in January 2005. Since then, the company’s sales have risen 88 percent to $68.62 billion in its latest fiscal year.

Niblock, 54, also oversaw the acquisition of Canadian home improvement chain Rona Corp for C$3.2 billion in 2016. He has been with the company for 25 years.

The company’s shares were up 5 percent at $88.05 in premarket trading.

Reporting by Aishwarya Venugopal in Bengaluru; Editing by Arun Koyyur and Saumyadeb Chakrabarty

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currensceneFLOGO WHTsquareThough not the oldest form of currency, some form of shell money appears to have been found on almost every continent. The shell most widely used worldwide as currency was the shell of Cypraea moneta, the money cowry.

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