Foot Locker CFO to Step Down, New COO and CCO Revealed
Foot Locker CFO Andrew Page is stepping down from his role. The executive will leave to pursue new opportunities after Foot Locker reports earnings for the fourth quarter.
The footwear retailer also revealed a slew of other executive changes, including the promotion of Frank Bracken to EVP and chief commercial officer, effective Dec. 1. In this role, the 12-year company veteran will oversee merchandising, marketing, loyalty and e-commerce for Foot Locker’s global retail banners.
Elliott Rogers has also joined Foot Locker and will commence his role as EVP and COO on Dec. 1. The executive joins after an eight-year run at Ulta, and he will oversee supply chain, information technology and procurement.
The executive shifts mark the first major changes from Foot Locker’s newly minted CEO, Mary Dillon, who joined from Ulta in September. In a statement, Dillon emphasized the importance of splitting commercial activities from supply chain management to best support growth and simplification.
“I am thrilled to partner with both Frank and Elliott – and the rest of our executive team – as we continue advancing Foot Locker’s strategic priorities and creating value for our shareholders, customers, and other stakeholders,” Dillon said.
Baird analyst Jonathan Komp praised the appointments in a Wednesday note and said he sees “potential for the separation of operational and commercial roles to unlock more consumer and omni-channel opportunities over time.”
Foot Locker also promoted Rosalind Reeves to EVP and chief human resources officer, succeeding Elizabeth Norberg who will step down from the top HR role. Robert Higginbotham has been promoted to SVP of investor relations and financial planning and analysis.
Earlier this month, Foot Locker reported better than expected results for the third quarter and a strong sales mix across various brands. In a call with analysts, Dillon said she is shifting the company from being product-led to being consumer-led, adding that most top Foot Locker customers tend to shop three or more brands.
Overall, total sales in Q3 were up 3.3% on a constant currency basis. Comparable-store sales increased 0.8% over 2021 and earnings per share were $1.01 and non-GAAP EPS were $1.27.
