Dive Brief:
- Dick’s Sporting Goods has completed its $2.4 billion acquisition of Foot Locker and announced a slate of executives to lead the business going forward, according to a Monday press release. Foot Locker will be run by Dick’s Executive Chairman Ed Stack and two presidents.
- Ann Freeman, a 26-year Nike veteran, will be president of Foot Locker North America. Dick’s plans to announce a president of international for Foot Locker but has yet to do so. Foot Locker CEO Mary Dillon was not mentioned in the release and Dick’s did not immediately respond to a request for comment on her position.
- At the same time, Dick’s named seven other executives to leadership roles in North America at Foot Locker, including moving several of its own leaders over to the footwear-focused banner.
Dive Insight:
Foot Locker is starting its life under Dick’s with a slew of old and new faces that Stack said will return Foot Locker “to its rightful place” in the industry.
At their head is Freeman, who has experience in a series of different roles at Nike, including positions as vice president of global sales and vice president/general manager of North America. Freeman left the activewear retailer in 2021 and has since served on the board of Allbirds.
"Together, we have an extraordinary opportunity to build on Foot Locker's rich heritage and deliver innovative experiences to a variety of footwear consumers — from athletes to sneaker enthusiasts and everyone in between,” Freeman said in a statement.
Freeman’s former employer Nike, notably, is a key player in Foot Locker’s fortunes, with many analysts attributing Foot Locker’s recent weakness to a pullback from Nike and the activewear brand’s own challenges with demand.
“You fix Nike and Foot Locker comes roaring back, regardless of the tired fleet and all the other issues,” Matt Powell, an adviser with BCE Consulting, told Retail Dive this summer.
Dick’s also firmly believes that teaming up with Foot Locker will give both retailers stronger sway with brands, and that the two can benefit from their complementary store footprints and customer bases. Indeed, the new team guiding Foot Locker is mostly a mix of both retailers’ executive suites.
Peter Scaturro, an executive with 17 years of experience at Foot Locker, is taking over as CFO for Foot Locker North America, while two Dick’s veterans will take on the roles of chief operating officer and chief people officer for the North America business. Michael Keinath, who has a roughly five-year-long tenure at Dick’s, is taking on the latter role. Steve Miller, who spent five years at Dick’s overseeing e-commerce, analytics, hardlines merchandising and golf, is returning to take on the COO role at Foot Locker. Miller also has experience in marketing and e-commerce at Joann.
Two 30-year Foot Locker veterans are also getting new roles. George Jenkins will lead store operations and customer experience for Foot Locker North America, while Tony Aversa will be general manager of Foot Locker and Kids Foot Locker North America. Dick’s e-commerce chief Denise Karkos, meanwhile, will become the general manager of Champs Sports.
Rounding out the recent appointments is Brett O’Brien, chief sports officer at PepsiCo, who is joining Foot Locker as chief marketing officer.
"We are excited to officially welcome the Foot Locker team," Dick’s CEO Lauren Hobart said in a statement. "Bringing together the strengths of both companies will help us return Foot Locker to growth while continuing to fuel Dick’s momentum. As a combined company, Dick’s and Foot Locker will create a global platform that will redefine the sports retail industry and unlock value for both companies, our brand partners, our teammates, our communities and our shareholders.”
