Finish Line to Close 150 Stores, Names New CEO

The Finish Line, the retail chain specializing in athletic shoes, Thursday named a new CEO, revealed a loss for the fiscal third quarter and said it would close about 25 percent of its stores. Sam Sato, currently the retailer’s president, has been promoted to replace Glenn Lyon as CEO, effective Feb. 28. Lyon, who is also chairman of the board of directors, will serve as executive chairman of the board until the end of the year and transition to the role of non-executive chairman next year.