Foot Locker Will Soon Have Two New Women in Power as CEO and Board Chair: Why That Matters

Last week, Foot Locker announced that Mary Dillon would take over as CEO, replacing Dick Johnson, who previously served as CEO, president and chair of the footwear retailer. The company also announced that its lead independent director Dona Young would replace Johnson as the company’s non-executive chair, effective Jan. 31, 2023. With this shift, Foot Locker will occupy a rare position among public companies of its stature, with two women at the helm of its board and C-Suite. In cases where the executive chair and CEO roles are split, it is unusual that both positions are occupied by women, given the small percentage of women occupying these roles overall. For example, Ed Stack and George P. Orban both serve as chairmen of Dick’s Sporting Goods and Ross Stores, respectively, alongside female CEOs. Notably, Tapestry has two women in both of these roles, with Anne Gates leading as independent chair alongside CEO Joanne Crevoiserat. “This is not a common situation,” explained Janice Reals Ellig, founder of the Women’s Forum of New York’s Corporate Board Initiative and its Breakfast of Corporate Champions. “The numbers just don’t allow it.” As of October, 8.2% of Fortune 500 CEOs were women, according to the 2021 Women CEOs in America

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