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Foot Locker rearranges Corporate Management

Nov '05
Footwear, apparel & accessories chain retailer Foot Locker Inc announced that Robert W. McHugh has been named Senior Vice President and Chief Financial Officer.

McHugh, presently the Company's Vice-President and Chief Accounting Officer, succeeds Bruce L. Hartman who has resigned from Foot Locker Inc and has accepted a position at another company. The Company also announced that it has promoted Giovanna Cipriano to the position of Vice President and Chief Accounting Officer.

McHugh will report to Matthew D. Serra, Chairman of the Board and Chief Executive Officer, and Cipriano will report to McHugh. Both management changes are effective immediately.

“Company is pleased that the Company has the senior management depth to promote such strong financial executives from within and they fully expect this to be a seamless transition,” stated Serra. “The change does not reflect any disagreements over the Company's financial reporting or accounting policies.

Bob is a seasoned financial executive who has extensive experience in Finance Department and has done an outstanding job in the accounting and tax functions. They are also pleased to be promoting Giovanna Cipriano, an Executive with an extensive accounting background, to succeed Bob as Vice President and Chief Accounting Officer.

Giovanna has been instrumental in managing Sarbanes-Oxley compliance and she is a key executive in the implementation of financial controls.”

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