Foot Locker (NYSE:FL) tapped current J.M. Smucker (NYSE:SHM) president Steven Oakland on Wednesday to serve on its board of directors.
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Having spent the bulk of his career at the branded foods giant, Oakland now serves as the head of International Foodservice and Natural Foods of Orrville, Ohio-based J.M. Smucker.
New York-based Foot Locker is likely interested in his experience with domestic and international retail operations. He previously served as president of U.S. retail for Smucker’s, Jif, and Hungry Jack, as well as general manager of Smucker’s Canadian operations.
"We are very excited to be bringing a person of Steve Oakland's talent and caliber onto our board," Foot Locker CEO Ken Hicks said in a statement. “He has a wealth of experience at J.M. Smucker, with particular strength in marketing and brand-building.”
The announcement comes a day after Smucker suffered a steep selloff after lowering its full-year guidance amid weaker-than-expected third-quarter profits.
Shares of Foot Locker were trading virtually flat around $38.83 in recent trade. The athletic apparel company is on tap to report fourth-quarter and full-year earnings on March 7.