Foot Locker has announced that Richard Johnson will retire as president and chief executive of the company and be succeeded by Mary Dillion as part of a planned succession process.

A former executive chair and chief executive of Ulta Beauty, Dillon will take up her new role on 1 September when she will also become a member of the Foot Locker board.

Johnson will continue as executive chairman of the board until 31 January when he will step down. However, he will remain with the company as a senior advisor to Dillon until early April 2023 to facilitate a smooth transition.

Dillon has over 35 years’ experience in sectors ranging from retail and beauty to restaurants, telecom and consumer goods. Most recently, she served as executive chair of Ulta Beauty after an eight year tenure as chief executive. Prior to that, she was president and chief executive at US Cellular, the global chief marketing officer of McDonald’s Corp, and held leadership roles at PepsiCo.

The company will be separating its chair and chief executive roles from 1 September and its lead independent director, Dona Young, will become non-executive chair on 1 February.