June 26, 2009 (FinancialWire) — Specialty athletic retailer Foot Locker, Inc.’s (NYSE: FL) board has elected Ken C. Hicks to become the company’s president and chief executive officer, effective August 17. Hicks was also elected a member of Foot Locker’s board.

Hicks will succeed Matthew D. Serra, who has been Foot Locker’s CEO since March 2001 and chairman since February 2004. Serra will continue as Foot Locker’s chairman until his planned retirement at the end of the company’s current fiscal year, January 30, 2010. He will also retire from the Foot Locker board on that date.

Hicks has served as president and chief merchandising officer of J.C. Penney since 2005 and has been a member of its board since 2008. From 2002 to 2004 he was Penney’s president and chief operating officer of stores and merchandise operations.

Before joining Penney, Hicks was president of Payless ShoeSource.

Serra joined Foot Locker in 1998 as president and CEO of Foot Locker Worldwide. He became president and COO in 2000.

New York-based Foot Locker operates around 3,600 athletic retail stores in 21 countries in North America, Europe, and Australia under the brand names Foot Locker, Footaction, Lady Foot Locker, Kids Foot Locker, and Champs Sports.

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