Dick’s Sporting Goods names Lauren Hobart as CEO

Dick’s Sporting Goods has appointed Lauren Hobart as the company’s new CEO, effective February 1, 2021.

Hobart brings more than 25 years of consumer, finance and retail experience and is currently the president of Dick’s Sporting Goods. Prior to this role, she spent 14 years at PepsiCo in various leadership positions before she was named chief marketing officer at Dick’s Sporting Goods in 2011.

She will be replacing Edward Stack, who is the company’s chairman and CEO and who will now assume the role of executive chairman and continue his role as chief merchant, effective February 1, 2021.

The appointment of Hobart as the new CEO at Dick’s Sporting Goods is the result of a transition plan that has been developed over a long period of time, according to the company.

Hobart will join the current 31 women holding CEO positions out of the 500 S&P companies according to Catalyst, a non-profit organisation that helps build workplaces that work for women.

Stack said in a statement: "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."

Hobart added: “Leading the company that Ed built is truly a privilege and an honour. For nearly ten years, I have witnessed first-hand his 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.

“I also want to thank the board and our 45,000 passionate and dedicated teammates who are so pivotal to our success. I am excited to work closely with them and with other members of the Dick's family to continue to advance the business and make a meaningful impact on our communities as we look to the future.”

The company currently owns some 850 stores and reaches nearly nine billion dollars in annual revenue.

Photo credit: Dick's Sporting Goods, Facebook