U.S. Markets closed

Sports Authority Chairman and CEO Webb retiring

ENGLEWOOD, Colo. (AP) -- Sports Authority Chairman and CEO Darrell Webb is retiring.

The privately held sporting goods retailer named board member Michael Foss to the CEO post. Webb, 55, became CEO in 2011.

Foss, also 55, who has served as a Sports Authority director since 2009, most recently was executive vice president and chief financial officer for Petco Animal Supplies.

Sports Authority Inc.'s majority owner, private equity firm Leonard Green & Partners LP, also holds a large stake in Petco.

Foss also served as CFO at Circuit City Stores and has held various positions at other businesses, including Eastman Kodak and IBM Corp. He will relocate to Denver.

Sports Authority, based in the Denver suburb of Englewood, Colo., has more than 475 stores in 43 states.