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Foot Locker CEO Ken Hicks to retire

Foot Locker chief executive Ken Hicks is to retire as president and chief executive of the company on 1 December as part of a planned succession process.

GENERAL MERCHANDISE

Foot Locker CEO Ken Hicks to retire

Foot Locker chief executive Ken Hicks is to retire as president and chief executive of the company on 1 December as part of a planned succession process.

 He will be succeeded by Dick Johnson who has worked with Foot Locker for almost two decades.

Hicks will continue as executive chairman of the Foot Locker board until the AGM in May 2015 when he will step down. Until then, he will remain actively involved at the company and will participate in day-to-day operations throughout the first quarter of the 2015 financial year to ensure a smooth transition process.

Foot Locker said Hicks and Johnson are currently working together on developing the next phase of the company's long-term strategic plan, which is being spearheaded by Johnson and is expected to be unveiled in the spring of next year.

Nicholas DiPaolo, lead director of Foot Locker’s board of directors, said: "When Ken joined Foot Locker over five years ago, we discussed the Company's key priorities – establishing a plan for strong, sustainable growth that leverages Foot Locker's exceptional position in the market and developing the next generation of leaders, including ensuring an orderly CEO succession process. Ken has delivered exceptionally well on these and all fronts, and we are grateful to him."

He added: "Dick Johnson's contributions through his 17 years at Foot Locker, during which time he has led all of our major businesses in the US, International, and Direct to Customer, make him uniquely qualified to lead Foot Locker. He has been instrumental to the company's success, working closely with Ken in creating and implementing the strategic business plan for the organization that has led to outstanding operational and financial results. We look forward to Foot Locker's strong future with Dick leading the company."

Johnson took up his current position as chief operating officer of Foot Locker in May 2012. As well as playing a key role in developing the company's long-range strategic plan, he also led the successful acquisition and integration of Runners Point in Germany as well as a major store remodelling programme.

Prior to being chief operating officer, Johnson’s previous roles at Foot Locker include executive vice president and group president for retail stores.

Foot Locker operates almost 3,500 stores in 23 countries across the world.

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