Ken Hicks announced that he will retire from his role as CEO of Foot Locker as of Dec. 1. He will continue on as executive chairman through the annual shareholder's meeting in May 2015 then step down. Hicks is being replaced by COO Richard Johnson.
Johnson, who has been with Foot Locker for almost two decades, will also serve on the company's board of directors starting Dec. 1.
"It has been an honor to lead Foot Locker, and the company's performance is the direct result of the work of an exceptional team at all levels of the organization," said Hicks. "I am very proud of what we have accomplished together, including that we will soon report on our 19th consecutive quarter of strong sales and profit growth. And we believe we have robust potential for continued success due to the strength of our brand banners, the innovation delivered to us by our vendor partners, the loyalty of our customers and the spirit of our associates."
As executive chairman, Hicks will continue to participate in day-to-day operations in order to ensure a smooth transition process. Hicks and Johnson are working to develop the next phase of Foot Locker's strategic plan, which will be presented to the investment community in spring.
"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," said Nicholas DiPaolo, lead director of the board. "Ken has delivered exceptionally well on these and all fronts, and we are grateful to him."
Under Hick's leadership, Foot Locker launched a partnership with Deliv to offer shoppers same-day delivery and in-store pick up. This fall, the company reported a 39 percent jump in profits for the quarter, yielding a net income of $92 million.
FierceRetail spoke with Hicks to talk supply chain, how Foot Locker is targeting mobile millennials, and how Hicks defines and approaches marketing as an omnichannel retailer.
-See this Foot Locker press release
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