PITTSBURGH, Sep 23, 2003 /PRNewswire-FirstCall via COMTEX/ -- Edward W. Stack, Chairman
and CEO of Dick's Sporting Goods, Inc. (NYSE: DKS), said today that William R.
Newlin has been elected Executive Vice President and Chief Administrative
Officer of Dick's. Stack said Newlin, most recently Chairman and CEO of
Buchanan Ingersoll, one of the nation's premiere law firms, would work with
him and the management group in steering the strategic direction of the
company. He said that, among other things, the financial, legal and personnel
functions at the company will report to Newlin.
"Bill Newlin has been an outstanding business strategist and executive as
CEO of Buchanan Ingersoll and one of the top lawyers in the country. He adds
depth to an already strong management team at Dick's, and we are looking
forward to working with him to continue to grow our business."
"This is a great opportunity for me," said Newlin. "Dick's Sporting Goods
is one of the finest names in the business, and I am excited about the
challenge of helping to continue the company's growth. At the same time, I
leave Buchanan in experienced, capable hands, and I am extremely proud of the
firm's position among leading law firms. I am confident it will continue to
prosper under its new leadership."
Newlin leaves Buchanan Ingersoll after more than 20 years of leadership
that saw the company grow from a small Pittsburgh firm to one of the 110
largest law firms in the country.
During his career he represented substantial publicly held industrial
companies, banks, retailers, high technology companies and entrepreneurs in
venture capital financing, acquisitions and other business counseling. In
addition, he was Chairman of Kennametal Inc. for a number of years, and is now
lead director and chairman of the company's Executive Committee. Newlin will
continue in that capacity as well as in his roles on the boards of
ArvinMeritor, Inc., Black Box Corporation and Parker/Hunter Incorporated.
In 1983 Newlin was a founding director of the Pittsburgh Technology
Council and continues to serve on its Executive Committee. Newlin is co-
founder of the CEO Venture Funds, established in 1986 as a second-stage fund
for developing companies. He was a co-founder of the Pittsburgh Biomedical
Development Corporation, which is now part of the Pittsburgh Biomedical
Specific to his experience in the sports industry, Newlin led the effort
on behalf of the City to retain the Pirates through a sale to the new owners,
including the negotiations with Major League Baseball, chaired the task force
that selected the site for PNC Park, and in 1999, helped broker a deal to sell
and reorganize the bankrupt Penguins to NHL superstar Mario Lemieux.
In 2001, the Pittsburgh Post-Gazette named Newlin one of the 50 top
business leaders in the city. In Corporate Board Member Magazine's feature on
"America's Best Corporate Lawyers", Newlin was the only Pittsburgh lawyer to
be identified and profiled, with the firm praised for "making high-pressure,
multi-million-dollar" deals. Pittsburgh Magazine named him in 1999 among the
"Most Influential Pittsburghers of the Century."
In recognition for his service to emerging companies, Newlin received Inc.
Magazine's 1991 Entrepreneur of the Year Award. He has been named in The Best
Lawyers in America every year since 1987, and has twice been recognized by the
National Law Journal as one of "The 100 Most Influential Lawyers in America".
And in 1997, Newlin received an honorary doctorate of business administration
from Robert Morris University.
About Dick's Sporting Goods
Pittsburgh-based Dick's Sporting Goods is an authentic full-line sporting
goods retailer offering a broad assortment of brand name sporting goods
equipment, apparel, and footwear in a specialty store environment. As of
August 2, 2003, the Company operated 151 stores in 27 states throughout the
Eastern half of the U.S. Dick's Sporting Goods news releases are available at
Michael F. Hines EVP - Chief Financial Officer
Jeffrey R. Hennion, VP - Finance & Treasurer