Finish Line announces leadership succession plan

04 Oct '08

4 min read

The Finish Line Inc announced that the Board of Directors has appointed Glenn S. Lyon, currently President of Finish Line, as the Company's next Chief Executive Officer following the planned retirement of Alan H. Cohen, effective December 1, 2008. Mr. Cohen will remain Chairman of the Finish Line Board of Directors.

Upon his appointment as Chief Executive Officer, Mr. Lyon is expected to join The Finish Line's Board and Steven Schneider, currently the Company's Chief Operating Officer, will assume the additional role of President of Finish Line.

Mr. Cohen said, "Since we opened the first Finish Line store in July 1982, this company has grown from a single store in Indiana into a nationally recognized leader in athletic footwear and apparel operating almost 700 stores in 47 states and online.

The Company's growth at Finish Line and at Man Alive is a testament to our focus on outstanding service and premium brands as well as the talented team we have established. After 32 years in the business and our company on solid footing, this is the right time for me to retire and pass the baton to a team who I know can build on our success."

"Glenn Lyon is a seasoned executive with a strong background in merchandising and sales, and deep knowledge of our company and our industry," continued Mr. Cohen. "He understands the opportunities we have, the challenges retailers face, and the actions needed to capitalize on them. We are fortunate to have a leader of his caliber to assume the CEO role."

"As we welcome Glenn and Steve into their new roles, we want to thank Alan for his guidance and service to the Company. We are delighted that we will continue to benefit from his expertise as Chairman of the Board," said Bill Kirkendall, a director of The Finish Line Board. "With continued strong leadership, we expect a seamless transition as we move forward with our efforts to drive enhanced value and profitable growth."

Mr. Lyon said, "The Finish Line is a special company with more than 13,000 employees who share a passion for our business and a determination to create the leading athletic retailer. I am proud of what we have accomplished and am equally confident in The Finish Line's future. I look forward to working closely with the Board and management team as well as our talented employees to continue the progress we are making to further strengthen and grow The Finish Line."

Alan H. Cohen, a co-founder of the Company, served as Chairman of the Board, President and Chief Executive Officer of the Company from May 1982 until October 2003. In October 2003, Mr. Cohen stepped down from the Presidency and is currently the Chairman of the Board and CEO.

Since 1976, Mr. Cohen has been involved in the athletic retail business as principal co-founder of Athletic Enterprises, Inc. (one of the predecessor companies of the Company, which operated franchised Athlete's Foot stores in Indiana). Mr. Cohen is an attorney, and practiced law from 1973 through 1981.

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