Ed Stack became CEO of Dick's Sporting Goods in 1984. Now, more than three decades later, he is stepping down from that role. His replacement is Lauren Hobart, who became Dick's chief marketing officer in 2011. The board voted unanimously to make her CEO, effective February 1. Ed Stack will remain with the company as executive chairman and chief merchant, overseeing "key strategic growth initiatives."
Stack's departure comes as the retailer posted another impressive quarter during the pandemic, with e-commerce sales growing 95%, a record 23.2% same-store sales rise and net sales increasing 22.9% to $2.4 billion.