Key management at the two of the nations largest mall specialty retailers were changed last week, as both Footlocker Inc. U.S.A. and The Finish Line, Inc. both made changes in the corner office.
The Finish Line, Inc. said last week that current company president, Glenn Lyon, will replace the company’s current CEO, Alan Cohen, when he retires Dec. 1, 2008. Cohen will remain chairman of the board of directors of The Finish Line, Inc. Upon his appointment as CEO, Lyon is expected to join FINL’s board and Steven Schneider, currently the company’s COO, will assume the role of president of The Finish Line, Inc.
“Glenn Lyon is a seasoned executive with a strong background in merchandising and sales, and deep knowledge of our company and our industry,” Cohen said.
On a different note, Foot Locker, Inc. earlier in the week requested that Rick Mina resign from his position as president and CEO of Foot Locker, Inc., U.S.A., effective September 30, 2008. According to a filing with the Securities & Exchange Commission, Mina’s employment contract with the company will be terminated on October 31.
In a research report, John Shanley, analyst for Susquehanna Financial Group, intimated that Mina’s departure was likely the result of “difficulties that the executive has had over the past year with both managing the line executives that reported to him as well as persistent problems he had working with the key vendors of the company’s U.S. operations.”
Mina’s position will apparently not be replaced – at least for now. Keith Daly, president and CEO of Foot Locker U.S., Kids Foot Locker and Footaction, and Marla Anderson, president and CEO of Lady Foot Locker, will now report directly to Matt Serra, chairman and CEO of the company.
Ron Halls, currently president and CEO of the retailer’s International division, and former chief of the Champs business, will now have the Champs Sports and Team Edition retail units report to him, as well as Global Sourcing.