Foot Locker appoints new CEO
New York-based speciality athletic wear and footwear retailer Foot Locker has appointed Mary Dillion as new CEO, effective from 1 September 2022, when current President and CEO Richard Johnson retires.
Johnson will continue as Executive Chairman of the board through to 31 January 2023, and will step down from the board at that time, remaining with the company as a senior advisor to the new CEO until early April 2023 “to facilitate a smooth transition”.
The company's board has determined that the Chair and Chief Executive Officer roles will be separated, also effective from 1 September 2022, and the company's Lead Independent Director, Dona Young, will become non-Executive Chair, effective from 1 February 2023.
Dillon has over 35 years of experience leading consumer-driven businesses in a diverse range of industries, from consumer-packaged goods to restaurants, telecom, beauty and retail.
She “brings deep consumer marketing and digital transformation expertise”, strong operational experience, a proven track record of shareholder value creation and a demonstrated commitment to leadership development.
Most recently, Dillon served as Executive Chair of Ulta Beauty, after having served as CEO for eight years, and was responsible for guiding the company as it became the leading beauty destination in the US and “a successful omni-channel retailer with a best-in-class loyalty programme”.
Dillon said: “I am thrilled to be joining Foot Locker, an iconic company that possesses a strong set of values and focus on the customer experience as well as tremendous growth opportunities. It is clear how Foot Locker sits at the heart of the global sport and sneaker community, and I am excited to become part of the company's team.
“I look forward to working closely with Dick (Richard) to ensure a smooth transition, and to partnering with the board, leadership team and nearly 50,000 team members around the world to build on Foot Locker’s strong foundation and help shape the company's future.”
Johnson has had a distinguished three-decade long career at Foot Locker, including having served as the company's CEO since 2014 following two years as Chief Operating Officer and holding multiple other divisional leadership roles.
During Johnson's tenure, he has led the development of the company's strategic imperatives and long-term plan, and has overseen sales growth to approximately $9 billion in 2021 from approximately $7 billion in 2014.
Foot Locker has also today released its financial results for the second quarter ending 30 July 2022, revealing a 9.2% decrease in sales to £1.7 billion ($2 billion).