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Dick's Sporting Goods announces planned leadership succession

Nov 25, 2020 United States
Dick's Sporting Goods announces planned leadership succession
The Pittsburgh-headquartered sporting goods retailer announced that Edward W. Stack, Chairman and Chief Executive Officer, will assume the role of Executive Chairman and continue as Chief Merchant, from the 1st of February onwards
Mr. Stack has served as Chairman and CEO of Dick's since he and his siblings bought his father's two small sporting goods stores in upstate New York in 1984. Under Mr. Stack's leadership and predominantly through organic growth, Dick's has become an important industry leader, with more than 850 stores and nearly billion US dollars in annual revenue. According to the company "Stack has driven DICK'S omni-channel strategy and investments in logistics and technology, which in 2020 have helped the company's eCommerce business approach 2 billion US dollars in revenue".

The company also announced that its Board of Directors unanimously elected Lauren R. Hobart, the current President of Dick's, as President and CEO, also effective from the 1st of February onwards.

Mr. Stack commented: "This is the perfect time for this transition. We have the best management team in the company's history, and the investments we have made in our people, our stores, and our communities are paying off. I look forward to continuing to lead merchandising, product development and several strategic growth initiatives while supporting Lauren as a trusted advisor. She has proven herself to be a capable, innovative and respected leader who has helped drive our business and our culture."

"Leading the company that Ed built is truly a privilege and an honour. For nearly 10 years, I have witnessed first-hand his commitment to DICK'S values, to our teammates, customers and the communities we serve. I am fortunate to have Ed as a mentor and look forward to leading the company into this next phase of growth with Ed and our senior management team."
Ms. Hobart continued, "I also want to thank the board and our 45,000 passionate and dedicated teammates who are so pivotal to our success. I am excited to work closely with them and with other members of the DICK'S family to continue to advance the business and make a meaningful impact on our communities as we look to the future", Hobart concluded.

Ms. Hobart brings more than 25 years of finance, consumer and retail experience and spent 14 years at PepsiCo in various leadership roles before she joined Dick's as Chief Marketing Officer in 2011. She was appointed President in 2017 and joined the board of directors the following year. Prior to PepsiCo, she was at Wells Fargo Bank and at JP Morgan Chase. From 2014 to 2018, Ms. Hobart served as a member of the board of directors of Sonic Corp. She currently serves on the Yum! Brands Board of Directors.


About Dick's Sporting Goods

Founded in 1948, Dick's Sporting Goods, Inc. is an omni-channel sporting goods retailer. As of the 31st of October, the company operated 732 DICK'S Sporting Goods locations across the United States. Headquartered in Pittsburgh, Dick's also owns and operates Golf Galaxy and Field & Stream specialty stores, as well as GameChanger, a youth sports mobile app for scheduling, communications and live scorekeeping.

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