Dick’s Sporting Goods Inc. named Lauren R. Hobart its next chief executive officer, putting her among the rare women to lead a large corporation.

Hobart, currently president of the sporting-goods retailer, will take the top spot Feb. 1, Dick’s said in a statement Tuesday. Current Chairman and CEO Ed Stack, part of the company’s founding family, will become executive chairman.

DICK’S Sporting Goods Reports Third Quarter Results; Delivers Record-Setting 23.2% Increase in Same Store Sales

Stack, 65, said in the statement that he’ll continue to lead merchandising, product development and certain strategic initiatives while supporting Hobart as an adviser.

Hobart, 51, joined Dick’s from PepsiCo Inc. in 2011 as chief marketing officer and became president in 2017.

Dick’s also released third-quarter earnings Tuesday, reporting an adjusted profit of US$2.01 a share. That topped analysts’ estimate of US$1.05, as compiled by Bloomberg. Same-store sales surged 23 per cent. The company didn’t provide an updated outlook.

Click here to read the release

Source: BNN Bloomberg