(RTTNews) - Specialty athletic retailer Foot Locker, Inc. (FL) announced Friday that, as part of a planned succession process, Richard Johnson will retire as President and Chief Executive Officer, effective September 1, 2022.
Mary Dillon, former Executive Chair and CEO of Ulta Beauty, Inc., has been appointed President and CEO and a member of the Foot Locker Board, also effective September 1, 2022.
Johnson will continue as Executive Chairman of the Board through January 31, 2023, and will step down from the Board at that time, subsequently remaining with the Company as a Senior Advisor to the CEO until early April 2023 to facilitate a smooth transition.
The Company's Board has determined that the Chair and CEO roles will be separated, also effective September 1, 2022, and the Company's Lead Independent Director, Dona Young, will become non-Executive Chair, effective February 1, 2023.
Dillon, with over 35 years of experience leading consumer-driven businesses, previously served as President, CEO and a member of the Board of Directors of U.S. Cellular, the Global Chief Marketing Officer of McDonald's Corp., and held leadership roles at PepsiCo. Meanwhile, Johnson leaves after 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.
