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Dick’s CEO Ed Stack To Step Down

Dick’s CEO Ed Stack To Step Down

Retail Bum
Dick's CEO Ed Stack To Step Down

After more than three decades of working as the CEO of Dick’s Sporting Goods, Ed Stack will be stepping down from the top role effective February 1, 2021.

The company’s President Lauren Hobart, who originally joined Dick’s Sporting Goods as chief marketing officer in 2011, will replace Stack as president and CEO. Hobart was confirmed for the position in a unanimous vote by the board of directors.

The two, however, have been working on the transition for several years, according to a company announcement.

“Leading the company that Ed built is truly a privilege and an honor,” said Hobart.”For nearly 10 years, I have witnessed first-hand his [Stack] 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.”

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Stack’s exit comes at a time when the company has delivered yet another phenomenal quarter during the COVID-19 pandemic, with eCommerce sales growing 95 percent, same-store sales increasing by a record 23.2 percent and net sales increasing by 22.9 percent, which equates to roughly $2.4 billion.

“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,” said Stack.

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