Dicks Sporting Goods CEO Ed Stack is abandoning a sinking ship.
Ed Stack, the CEO who defended banning AR-15 and “high capacity” magazine sales at Dick’s Sporting Goods, is stepping down from his position.
Breitbart News reported DICK’s banned the sales of “assault-style rifles” and “high capacity” magazines two weeks after the February 14, 2018, Parkland high school shooting.
On April 17, 2018, Breitbart News reported Dick’s was destroying their unsold “assault rifles,” rather than sending them back to their respective manufacturers. Dick’s also chose to destroy their unsold “high capacity” magazines.
On December 3, 2018, Rush Limbaugh referenced the Parkland High School shooting and noted the establishment responded to the incident by trying to make it look like “all of America hates guns” and “Americans want guns gone.” He suggested Dick’s bought the media’s claims hook, line, and sinker, saying, “Dick’s tries to capitalize. They go public announcing they are stopping selling guns, ammo, pictures of guns, whatever it is.”
He added, “Now the bottom’s falling out and they’re warning investors.”
But CEO Stack stood his ground, and in March 2019 made clear he was alright with $150 million loss over the gun control stance.
Bloomberg.com quoted Stack saying, “The system does not work. It’s important that when you know there’s something that’s not working, and it’s to the detriment of the public, you have to stand up.”
Dick’s stock has since returned to pre-2018 levels, and with the New York Post reporting Stack credits a pandemic-driven fitness boom with helping the business’s recovery.
WIVT 34 reports Stack is stepping down from Dick’s. He will be succeeded on February 1, 2021, by Lauren Hobert, currently the president of Dick’s.