Foot Locker CEO Ken Hicks to retire; COO to assume role

New York -- Foot Locker Inc. announced that, as part of a planned succession process, Ken Hicks, 61, intends to retire as president and CEO of the company on Dec. 1, 2014. Hicks, a highly-regarded retail veteran who has been wooed by other retailers for the top spot, will be succeeded as president and CEO by COO Richard (Dick) A. Johnson, 56, who has been with Foot Locker for almost two decades.



Hicks will continue as executive chairman of the board through the company’s annual meeting in May 2015, at which point he will step down from the board. Johnson has also been appointed to the company’s board of directors, effective Dec. 1, 2014.



Hicks became president and CEO of Foot Locker in Aug. 2009. He became chairman of the board in 2010. Immediately before joining Foot Locker, he was president and chief merchandising officer of J.C. Penney Company.



“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 company's board. “Ken has delivered exceptionally well on these and all fronts, and we are grateful to him."



As executive chairman, Hicks will remain actively involved at the company, participating in day-to-day operations through the first quarter of fiscal 2015, in order to ensure a smooth transition process. As part of this, Hicks and Johnson are currently working closely together to develop the next phase of Foot Locker’s long-range strategic plan.



Incoming CEO Johnson joined Foot Locker in 1997, when the company acquired Eastbay, where he had been on the senior leadership team. He assumed his current position as COO in May 2012.