Sneaker seller Foot Locker Inc. said Wednesday that its board has given CEO Ken Hicks the additional title of chairman, effective Jan. 31.
Hicks, who is 56, succeeds Matthew Serra, who will retire from the company and the board on Jan. 30. Serra is 65 and had been CEO of Foot Locker from 2001 until Hicks took over in August.
Previously, Hicks was chief merchandising officer at J.C. Penney Co.
Shares of Foot Locker, based in New York, rose 16 cents to $11.10 on Wednesday.