When you consider diversity and inclusion in business, you may think of it as a “nice to have.” The truth is, though, that diversity in business leadership builds a better culture and yields higher financial returns – making it a “need to have” for companies that want to win big.
That’s just one of the many insights shared by Mary Dillon, president and CEO of Foot Locker, Inc., at Medill IMC Live 2023 on Thursday, November 16, on the Northwestern University campus.
I interviewed Mary live in an NU auditorium filled with hundreds of Medill School of Journalism students, alumni, faculty and community members – where she made a compelling case for why creating a culture of diversity and inclusion is key to running a successful enterprise. And she should know. Mary is not only a highly successful three-time CEO; she’s also a transformative change agent and culture creator who knows what it takes to lead a big business to even bigger success.
Mary recently made history by becoming only the third woman to ever run two Fortune 500 companies (currently, just 52 companies out of 500 are led by female CEOs). A self-made success story from the South Side of Chicago, Mary worked her way through school as a first-generation college student, then rose through the ranks at PepsiCo and McDonald’s before landing her first CEO job at UScellular. Then, as CEO of Ulta Beauty, she catapulted its growth by leading a diverse team of more than 90 percent female associates while building a culture of growth and respect. During her incredible tenure, Ulta’s revenues doubled and its market capitalization more than tripled.
Now, at Foot Locker, she’s reinvigorating the brand and positioning it for massive digital expansion. Just last week, Mary and Foot Locker launched “The Heart of Sneakers” platform to celebrate sneaker culture. I saw it in action and felt the energy at the Foot Locker store in nearby Lincolnwood Mall, where I bought several new sneakers – including the pair I wore at the event: vintage Air Jordan Retro 13s in Northwestern purple!
Here are a few more insights Mary shared with the audience:
Building a culture of diversity, inclusion and respect is key to her leadership style. Mary is intentional about centering culture in her work because it simply makes sense. In a global society that grows more diverse every day, including everyone means you open yourself up to more customers, greater opportunities and bigger markets for your brand.
To gain or improve “culture competency,” Mary encourages people to use empathy. Meaning, leaders should always put themselves in another person’s shoes (no pun intended!) and understand the other’s point of view before they make decisions.
Surround yourself with diverse people who know more than you or specialize in different areas than you do. This ensures that you have expert insights in areas you may not have as deep of knowledge.
Ask team members what they think. Gaining various perspectives helps you see things from a 360-degree perspective so you can make the best decisions.
Leverage authentic connections between team members and customers. At Foot Locker, the Stripers (store employees) are the connection between sneakers and the “sneaker-passionate.” Encourage associates to express opinions and have fun on the job so they can deliver on experiences that resonate with the consumer and drive the business forward.
Among Mary’s advice to students who will soon be graduating and entering the workforce is that they should strive to be confident yet humble. Retaining a sense of humility is key to career success.
I have known Mary for many years – she is an angel investor in my company, 30Seconds, and she wrote the Foreword for my book, Become the Fire: Transform Life’s Chaos into Business and Personal Success.
With Mary as a role model, I’m reminded that being a CEO is not just about wrangling numbers on a spreadsheet or managing marketplace disruptions. Being a CEO is about people and culture. Good leaders know how to engage employees and motivate diverse teams, which is why great CEOs put their people first and provide runway for them to grow.
The best CEOs empower others and create a culture where they can thrive – that’s what leadership is all about. Thank you, Mary, for inspiring me and so many others!
If you haven’t read the book yet, here’s how to get your copy of Become the Fire: Transform Life’s Chaos into Business and Personal Success.
You can visit my author website at ElisaSchmitz.com, and learn more about my book on achieving career and life success at BecomeTheFire.com. Inspire and be inspired at 30Seconds.com.
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When you consider diversity and inclusion in business, you may think of it as a “nice to have.” The truth is, though, that diversity in business leadership builds a better culture and yields higher financial returns – making it a “need to have” for companies that want to win big.
That’s just one of the many insights shared by Mary Dillon, president and CEO of Foot Locker, Inc., at Medill IMC Live 2023 on Thursday, November 16, on the Northwestern University campus.
I interviewed Mary live in an NU auditorium filled with hundreds of Medill School of Journalism students, alumni, faculty and community members – where she made a compelling case for why creating a culture of diversity and inclusion is key to running a successful enterprise. And she should know. Mary is not only a highly successful three-time CEO; she’s also a transformative change agent and culture creator who knows what it takes to lead a big business to even bigger success.
Mary recently made history by becoming only the third woman to ever run two Fortune 500 companies (currently, just 52 companies out of 500 are led by female CEOs). A self-made success story from the South Side of Chicago, Mary worked her way through school as a first-generation college student, then rose through the ranks at PepsiCo and McDonald’s before landing her first CEO job at UScellular. Then, as CEO of Ulta Beauty, she catapulted its growth by leading a diverse team of more than 90 percent female associates while building a culture of growth and respect. During her incredible tenure, Ulta’s revenues doubled and its market capitalization more than tripled.
Now, at Foot Locker, she’s reinvigorating the brand and positioning it for massive digital expansion. Just last week, Mary and Foot Locker launched “The Heart of Sneakers” platform to celebrate sneaker culture. I saw it in action and felt the energy at the Foot Locker store in nearby Lincolnwood Mall, where I bought several new sneakers – including the pair I wore at the event: vintage Air Jordan Retro 13s in Northwestern purple!
Here are a few more insights Mary shared with the audience:
Building a culture of diversity, inclusion and respect is key to her leadership style. Mary is intentional about centering culture in her work because it simply makes sense. In a global society that grows more diverse every day, including everyone means you open yourself up to more customers, greater opportunities and bigger markets for your brand.
To gain or improve “culture competency,” Mary encourages people to use empathy. Meaning, leaders should always put themselves in another person’s shoes (no pun intended!) and understand the other’s point of view before they make decisions.
Surround yourself with diverse people who know more than you or specialize in different areas than you do. This ensures that you have expert insights in areas you may not have as deep of knowledge.
Ask team members what they think. Gaining various perspectives helps you see things from a 360-degree perspective so you can make the best decisions.
Leverage authentic connections between team members and customers. At Foot Locker, the Stripers (store employees) are the connection between sneakers and the “sneaker-passionate.” Encourage associates to express opinions and have fun on the job so they can deliver on experiences that resonate with the consumer and drive the business forward.
Among Mary’s advice to students who will soon be graduating and entering the workforce is that they should strive to be confident yet humble. Retaining a sense of humility is key to career success.
I have known Mary for many years – she is an angel investor in my company, 30Seconds, and she wrote the Foreword for my book, Become the Fire: Transform Life’s Chaos into Business and Personal Success.
With Mary as a role model, I’m reminded that being a CEO is not just about wrangling numbers on a spreadsheet or managing marketplace disruptions. Being a CEO is about people and culture. Good leaders know how to engage employees and motivate diverse teams, which is why great CEOs put their people first and provide runway for them to grow.
The best CEOs empower others and create a culture where they can thrive – that’s what leadership is all about. Thank you, Mary, for inspiring me and so many others!
If you haven’t read the book yet, here’s how to get your copy of Become the Fire: Transform Life’s Chaos into Business and Personal Success.
You can visit my author website at ElisaSchmitz.com, and learn more about my book on achieving career and life success at BecomeTheFire.com. Inspire and be inspired at 30Seconds.com.