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Former-Ulta Beauty executive to take over as CEO of Foot Locker
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The chief executive who oversaw the rapid expansion of Ulta Beauty will take over as CEO of Foot Locker during a major transition for the chain.
Mary Dillon, one of only a handful of women to run a company in the S&P 500, stepped down as the top executive at Ulta early last year and will take over at Foot Locker for Richard Johnson, who retires next month.
Shares of Foot Locker jumped 20% at the opening bell Friday.
Dillon takes control of the company next month with Foot Locker relying less on sales at malls, where foot traffic has plummeted, and away from one of its most dominant suppliers, Nike, which is pursuing an aggressive push to sell its products directly to customers.
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Johnson, who has led the company since 2014, will continue as the board’s executive chairman through 2023.