Foot Locker has announced that Lauren B. Peters, executive VP and CFO of the group, will step down and retire in April 2021.
The retailer said it has initiated a “comprehensive search” process with the assistance of Crist|Kolder, an executive search firm, to find a successor. It expects to consider both internal and external candidates for the position.
Peters said: “I have had a fulfilling career in my more than two decades at Foot Locker, and it has been an honour to work alongside such a talented and dedicated team. I look forward to focusing on my board roles and adventures with my dear husband, Richard, as we embark on our next chapter.”
The news follows Foot Locker’s recent trading update which saw comparable-store sales increase by 7.7% and total sales for Q3 increase 9% to $2.1bn (£1.5bn) compared with sales of $1.9bn (£1.4bn) for the same period last year.
Richard Johnson, chairman and CEO for Foot Locker, said: “Lauren has had a remarkable 23 years at Foot Locker, including leading our finance organisation for the last nine years as CFO.
“With her expertise and leadership, we have built a world-class finance organisation and successfully executed a series of strategic initiatives that position Foot Locker to continue driving growth and value creation.”
He added: “Lauren has been an integral member of our management team and a tremendous partner to me. On behalf of the entire Board of Directors and the management team, we thank Lauren for her many contributions and wish her all the best in her well-deserved retirement.”