Foot Locker, Inc. announced Monday that Robert W. McHugh has been named SVP and CFO. Mr. McHugh, presently the company's VP and chief accounting officer, succeeds Bruce L. Hartman who has resigned from Foot Locker, Inc. and has accepted a position at another company. The company has also promoted Giovanna Cipriano to the position of VP/CAO, replacing Mr. McHugh.
Mr. McHugh will report to Matthew D. Serra, Chairman of the Board and Chief Executive Officer, and Ms. Cipriano will report to Mr. McHugh. Both management changes are effective immediately.
“We are pleased that the Company has the senior management depth to promote such strong financial executives from within and we fully expect this to be a seamless transition,” stated Mr. Serra. “The change does not reflect any disagreements over the Company's financial reporting or accounting policies. Bob is a seasoned financial executive who has extensive experience in our Finance Department and has done an outstanding job in the accounting and tax functions. We are also pleased to be promoting Giovanna Cipriano, an executive with an extensive accounting background, to succeed Bob as our Vice President and Chief Accounting Officer. Giovanna has been instrumental in managing our Sarbanes-Oxley compliance and she is a key executive in the implementation of our financial controls.”
Mr. McHugh joined the Company in 1997 as Vice President — Taxation, and for the past six years has held the position of Vice President and Chief Accounting Officer. Prior to joining Foot Locker, Inc. he was a partner with KPMG. Mr. McHugh holds a BS degree from Duke University and is a Certified Public Accountant in New York, Connecticut and North Carolina.
Ms. Cipriano joined Foot Locker, Inc. in 1996 after having begun her career with KPMG. In 1998, she was promoted to Director of External Reporting and in 2002 promoted to Divisional Vice President, Financial Controller. Ms. Cipriano holds a BS degree in accounting from St. John's University and is a Certified Public Accountant in New York.
