Foot Locker CFO to step down in executive team shake-up

Image: Foot Locker Inc. Foot Locker has announced a number of changes to its top team, including the departure of its chief financial officer and the appointment of a new chief operating officer. The New York-based specialty athletic retailer announced Thursday that Andrew Page will step down as CFO following the company's Q4 earnings report. A search for a successor is underway. The company has appointed Elliott Rodgers as new executive vice president and COO. Rodgers currently sits on the board of denim giant Levi’s, and previously spent eight years at Ulta Beauty, most recently serving as chief information officer. Next, Foot Locker veteran Frank Bracken has been appointed as new executive vice president and chief commercial officer. He will also continue to lead the company’s global retail banners, merchandising, and marketing, as well as digital, loyalty, and e-commerce. Additionally, Rosalind Reeves, who is currently Foot Locker’s vice president of talent, diversity, and organization capability, has been promoted to executive vice president and chief human resources officer. And finally, Robert Higginbotham, vice president of investor relations, has been promoted to senior vice president of investor relations and financial planning and analysis. Structural changes Commenting on the shake up, Foot Locker CEO Mary N. Dillon said: “Separating our commercial activities from our supply chain and IT functions will better position Foot Locker to support growth and enhance operating efficiency as we invest in unleashing the power of our leading retail banners by simplifying our operations and expanding our omnichannel, loyalty, and digital capabilities.” The executive changes come after last week Foot Locker upped its full-year outlook after reporting a smaller than expected drop in sales and profit in the third quarter. The retailer made sales of 2.2 billion dollars in the three months to October 29, down 0.7 percent on a reported basis, but up 3.3 percent on a constant currency basis. Its net income came in at 96 million dollars, down from 158 million dollars. The company now expects full-year sales to drop by between 4 percent and 5 percent year-on-year, compared to its previous guidance of between 6 percent and 7 percent.
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