Dive Brief:
- Robert Higginbotham has been named Foot Locker’s interim CFO, in addition to his current duties as senior vice president of investor relations and financial planning and analysis, effective Mar. 1, according to a Tuesday filing with the Securities and Exchange Commission.
- With this appointment, the company is continuing a “comprehensive search with the assistance of a leading executive recruiting firm,” for a permanent successor to Andrew Page, who announced his departure from the CFO seat on Nov. 29, the filing said.
- Page’s departure is effective Feb. 28, following the New York- based sneaker retailer’s fourth quarter earnings and was announced among a slew of leadership changes within the company’s executive ranks, including new hire Elliott Rodgers taking over for Frank Bracken as chief operating officer as Bracken moves to the position of chief commercial officer. Also insider Rosalind Reeves was promoted to chief human resources officer.
Dive Insight:
Higginbotham has been with Foot Locker since January 2022 and his interim CFO duties will be an addition to his current roles, not a replacement, the filing said.
Prior to joining the shoe-store chain, Higginbotham spent nearly twenty years on Wall Street as an equity research analyst and portfolio manager, the filing said.
Departing finance chief Page is set to take on other opportunities, but his exit is “not related to any disagreement with the Company on any matter relating to its operations, policies, or practices,” according to the filing.
Foot Locker — which has a portfolio of brands including Kids Foot Locker, Champs Sports, Eastbay, atmos and WSS — has had a new CEO since September, when Mary Dillon replaced Richard Johnson following his announced retirement.
The company is set to report its fourth quarter earnings results on Mar. 20, and like other retailers, has recently faced headwinds from macroeconomic pressures like high inflation, foreign currency fluctuations, supply chain costs and swollen inventories.
