Foot Locker begins search for new CFO
New York-based athletic apparel and footwear retailer Foot Locker, Inc. has announced the planned retirement of executive vice president and chief financial officer Lauren B. Peters and the start of a search for her replacement.
After 23 years at the company, Peters is expected to step down from her position at Foot Locker in April 2021.
The executive has served as the retailer’s CFO for the last nine years. Prior to this, she held the roles of VP for planning and senior VP for strategic planning at the company. She also serves on the board of WomenInc, Carbon38 and LA-Z Boy.
“Lauren has been an integral member of our management team and a tremendous partner to me,” commented Foot Locker chairman and CEO Richard Johnson in a release. “We are pleased to be able to benefit from her ongoing leadership as we conduct our CFO search and execute a seamless transition next year.”
“I am proud of the company’s many accomplishments during my tenure, the tremendous progress we have made in positioning the company at the center of youth culture, and the
strong team we have built,” said Peters. “I am confident in Foot Locker’s ongoing success and look forward to watching the company’s continued growth in the years ahead.”
Foot Locker is working with executive search firm Crist Kolder to find Peters’ successor. The company said that it will consider both internal and external candidates for the position.
Peters’ retirement is the latest significant change in a year that has seen Foot Locker shake up its senior management team as part of reorganizational efforts implemented in response to the economic crisis caused by the Covid-19 pandemic.
In July, the company announced the promotion of Andy Gray to the newly created role of EVP and chief commercial officer, while Frank Bracken became EVP and CEO of North America, and Scott Martin took on the role of EVP and CEO of Asia Pacific, in addition to his responsibilities as chief strategy and development officer.
In the third quarter ended October 31, 2020, Foot Locker reported net income of $265 million, or $2.52 per share, on sales of $2.1 billion, a 9% increase compared to net sales of $1.9 billion in the prior-year period.
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