- Push-out Score determined
- After 37 years in the position
- Accolades and praise for Stack
- Lauren Hobart taking over
- Stack will remain as Executive Chairman and Chief Merchant at Dick’s Sporting Goods
- Stack said 78 words
(exechange) — Pittsburgh, Pennsylvania, November 24, 2020 — Ed Stack, chief executive of Dick’s Sporting Goods, leaves his position. As announced by Dick’s Sporting Goods Inc. in a news release and in a regulatory filing published on Tuesday, November 24, 2020, Edward W. (Ed) Stack leaves his post as chief executive officer of the sporting-goods retailer after 37 years in the role, effective February 1, 2021.
It is the end of an era.
Ed Stack’s duties as CEO will be taken over by Lauren R. Hobart, currently President of Dick’s Sporting Goods Inc.
“Long-term succession plan”
Ed Stack’s departure from the CEO post is explained as follows. Dick’s Sporting Goods said: “Ms. Hobart’s appointment is an important step in the company’s long-term succession plan undertaken by the board and Mr. Stack.”
Stack will remain as Executive Chairman and Chief Merchant at Dick’s Sporting Goods
“Edward W. Stack, Chairman and Chief Executive Officer, will assume the role of Executive Chairman and continue as Chief Merchant on February 1, 2021. He also will oversee key strategic growth initiatives for the company,” Dick’s Sporting Goods said.
Dick’s Sporting Goods said: “Edward W. Stack, the Company’s current Chairman and Chief Executive Officer, will transition to the role of the Company’s Executive Chairman effective February 1, 2021.”
Share price increase since November 2019
The announcement follows an increase in Dick’s Sporting Goods Inc.’s share price of 52% since November 2019.
In the position of CEO since 1984
Ed Stack became CEO of the Company in 1984.
Presently, Edward W. Stack occupies the position of Chairman and Chief Executive Officer at Dick’s Sporting Goods.
Stack is also on the board of National Retail Federation, Inc.
Stack received an undergraduate degree from St. John Fisher College.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding the management change on a scale of 0 to 10.
exechange reached out to Dick’s Sporting Goods and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 48.2020 ($).