Foot Locker named former Ulta Beauty CEO Mary Dillon as its chief executive Friday, replacing Richard Johnson, who will retire next month after leading the athletic retailer since 2014.
Foot Locker shares jumped more than 20% in premarket trading on the announcement.
Dillon will take over the top position at Foot Locker effective September 1, though Johnson will continue as the board's executive chairman through 2023.
Dillon led the cosmetics retailer Ulta Beauty as it tripled its market capitalization from 2013 to 2021 and doubled its number of stores and loyalty memberships. She also served as president and CEO of U.S. Cellular and held executive and leadership positions at McDonald’s and PepsiCo.
Foot Locker, based in New York, has 2,800 stores across 28 countries and reported $9 billion in sales last year.