Foot Locker gives CEO added title of chairman

New York City Foot Locker said late Wednesday that its board has given CEO Ken Hicks the additional title of chairman, effective Jan. 31.

Hicks, 56, succeeds Matthew Serra, who will retire from the company and the board on Jan. 30.

Serra had been CEO of Foot Locker from 2001 until Hicks took over in August.

Previously, Hicks was chief merchandising officer at J.C. Penney Co.