UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of report (Date of earliest event reported): February 5, 2019
Foot Locker, Inc.
(Exact name of registrant as specified in charter)
| New York | 1-10299 | 13-3513936 |
| (State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
| 330 West 34th Street, New York, New York | 10001 |
| (Address of principal executive offices) | (Zip Code) |
| Registrant's telephone number, including area code: (212) 720-3700 |
(Former name or former address, if changed since last report.) |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| Item 5.02. | Departure
of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On February 5, 2019, Foot Locker, Inc. issued a press release announcing that, as part of a global realignment, Lewis P. Kimble, Executive Vice President and Chief Executive Officer—International, a named executive officer, has been appointed to the new role of Executive Vice President and Chief Executive Officer—Asia Pacific. The appointment is effective March 11, 2019.
Also, as part of the global realignment, Vijay Talwar has been promoted to Executive Vice President and Chief Executive Officer—EMEA.
A copy of the press release is furnished as Exhibit 99.1, which, in its entirety, is incorporated herein by reference.
| Item 9.01. | Financial Statements and Exhibits. |
| (d) | Exhibits. |
| Exhibit No. | Description |
| 99.1 | Press Release, dated February 5, 2019, issued by Foot Locker, Inc. |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| FOOT LOCKER, INC. | |||
| Date: February 6, 2019 | By: | /s/ Elizabeth Norberg | |
| Name: | Elizabeth Norberg | ||
| Title: |
Senior Vice President and Chief Human Resources Officer | ||
Exhibit 99.1
NEWS RELEASE
| Investor Contact: | Media Contact: |
| James R. Lance | Mary Signorino |
| Vice President, Corporate Finance and Investor Relations | Sr. Director, PR and Communications |
| (212) 720-4600 | (212) 720-3700 |
FOOT LOCKER, INC. ANNOUNCES GLOBAL REALIGNMENT TO SUPPORT INTERNATIONAL GROWTH STRATEGY
Lew Kimble and Vijay Talwar Appointed to Key Roles to Lead International Businesses
NEW YORK, NY, February 5, 2019 – Foot Locker, Inc. (NYSE: FL), the New York-based specialty athletic retailer, announced today a realignment of its organizational operating model into three distinct geographical regions: Europe, Middle East and Africa (EMEA); Asia Pacific; and North America, to better align its resources across its international businesses, and to develop an infrastructure to support an expansion plan within the Asian market.
Over the past year, the Company successfully opened stores across Singapore, Hong Kong, and Malaysia, including the launch of its digital channels within each region, as well as in mainland China through a limited offering in partnership with Tmall. In December, the company also opened an Asian Headquarters in Singapore to support the business across the region.
Overseeing Foot Locker’s growth expansion into Asia and continuing to lead the business in Asia Pacific will be Lew Kimble, who has been appointed to the role of Executive Vice President and Chief Executive Officer – Asia Pacific. In his new role, Kimble will oversee Asia’s growth plan, including driving brand strategy and store growth in Singapore, Hong Kong, and Malaysia, and exploring additional expansion opportunities. He will also lead the effort to strengthen the digital channels, both owned websites and Tmall, and supply chain capabilities within the region.
Mr. Kimble has been with the Company for more than four decades, having started his career as a store associate in 1976. He has served as Executive Vice President and Chief Executive Officer – International since 2016, and prior to that Kimble was President and Chief Executive Officer of Foot Locker Europe, and Managing Director of Foot Locker Asia Pacific.
As part of the transition, Vijay Talwar has been promoted to Executive Vice President and Chief Executive Officer – EMEA, becoming an executive officer of Foot Locker, Inc. Mr. Talwar will focus on driving productivity and capitalizing on growth opportunities, while furthering an elevated multi-channel experience across this important geography. In his new position, he will oversee strategic direction for the Foot Locker Europe and Runners Point Group brands, including franchise operations in the Middle East, as well as oversee operational functions including finance, marketing, merchandising, and in-store customer experience.
Since joining the Company in 2016 as President - Digital, Foot Locker.com/Eastbay, Mr. Talwar has played a significant role guiding the Company’s omnichannel efforts, providing key insights, expertise and operational effectiveness to the organization. He is an accomplished multinational business leader with over 20 years of broad industry experience in consumer products, online and retail sectors, encompassing both emerging and premium brands, including Sears Holdings, Blue Nile, Inc., and Nike, Inc.
Foot Locker, Inc. 330 West 34th Street, New York, NY 10001
Stephen (Jake) Jacobs will continue to serve as Executive Vice President and Chief Executive Officer – North America.
“Lew and Vijay have done an outstanding job leading their respective teams and functions to deliver against our long-term growth initiatives,” shared Richard Johnson, Chairman and Chief Executive Officer, Foot Locker, Inc. “With our new organizational structure, I am confident that their powerful leadership combined with Jake’s strong leadership in North America will serve as a catalyst to grow the core businesses within each respective region and pursue expansion opportunities, both in our stores and through our digital platforms internationally.”
Foot Locker, Inc. is a specialty athletic retailer that operates approximately 3,220 stores in 27 countries in North America, Europe, Asia, Australia, and New Zealand. Through its Foot Locker, Kids Foot Locker, Lady Foot Locker, Champs Sports, Footaction, Runners Point, Sidestep, and SIX:02 retail stores, as well as its direct-to-customer channels, including Eastbay.com, the Company is a leading provider of athletic footwear and apparel.
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