Lauren Hobart Net Worth – $50 million
What is Lauren Hobart’s net worth? Who is Lauren Hobart’s husband?
Introduction
Lauren Hobart might not be a reality TV star or a rapper, but she’s famous amongst the rich and famous and the movers and shakers of the business world.
That’s because, in 2021, Lauren Hobart claimed the top spot at sporting giant, Dick’s Sporting Goods.
By taking on the role as CEO at a company that made $9 billion plus in revenue in 2020, and has 854 stores and more than 50,000 employees, Lauren became one of only a few females to rule a Fortune 500 company.
As the head of America’s largest sporting goods retailer, Lauren Hobart has a lot on her plate.
From strategic planning to sales and growth, it all comes down to Hobart in the end.
So what do we know about one of the most influential people in the sports retail sector? Let’s find out.
The Origin Story
Lauren Hobart was born in 1970 in Scarsdale, New York.
After graduating from high school in 1986, she headed to the University of Pennsylvania.
She decided to major in psychology and international studies—although she didn’t think at the time that she’d ever have a career in those fields.
Hobart was a forward thinker—she knew that whatever field she got into, an understanding of people and foreign policy would be an advantage.
Following her graduation from the University of Pennsylvania, Hobart headed to Stanford University to earn her Master of Business Administration.
As it turned out, she knew what she was doing.
Husband
Lauren Hobart married Ted Hobart in 1994. The pair have three children.
Climbing The Corporate Ladder
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Hobart’s foray into the corporate world started at Wells Fargo and JP Morgan Chase.
From there, she worked her way up through the ranks at PepsiCo.
In 1997, the young go-getter secured a job with Pepsi-Cola in Strategic Planning.
From there, she worked her way up to Senior Marketing Manager, and then served two years as the Director of Marketing for Diet Pepsi.
Hobart made a lateral move to be the Director of Marketing at Mountain Dew in 2005, and then up to Vice President of Marketing for the Pepsi-Cola brand in 2007.
Dick’s Sporting Goods
Lauren joined Dick’s Sporting Goods team at the start of 2011 as the Senior Vice President and Chief Marketing Officer.
Her progression was fast, and by 2015 she was the Executive Vice President, Chief Marketing Officer of Dick’s and its Golf Galaxy and Field & Stream brands.
It was no surprise to the executive team that Lauren was rising to the top so quickly—she had a quarter of a century of experience in finance and retail and more than a decade in leadership roles.
She also understood the psychology of her team and her customers.
In 2017, Hobart was appointed as the company’s president and joined the board of directors in 2018.
On February 1, 2021, Lauren Hobart cleared the final hurdle to become not only the first woman to hold the position of CEO for Dick’s Sporting Goods, but also the first person ever that was not a member of the company’s founding family.
She succeeded Edward Stack, the long-time CEO and son of the company’s founder, Richard ‘Dick’ Stack.
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Making a Stand
@Getty
Prior to her ascension to the CEO top spot at Dick’s Sporting Goods, Lauren was a part of an executive team that made a pretty controversial decision for the retail giant.
Following the Parkland, Florida, school shooting that killed 17 people in 2018, they ruled to pull all assault rifles from their 850+ stores nationwide.
Edward Stack—CEO at the time of the decision—acknowledged that while Dick’s had no involvement in the gun sold to the shooter, they wanted to make a move to a safer country.
Dick’s may not have sold the weapon used by the gunman, but Stack and Hobart both knew that their stores could have followed all the rules and still sold a gun to someone who shouldn’t have had one.
“[That] really just was the last straw,” said Hobart at a 2021 innovation conference.
Not only did they stop selling assault rifles and high-capacity magazines, but they also stopped selling any kind of firearms to people under the age of 21.
The decision cost the company $250 million and the company had a tough year.
Dick’s Sporting Goods as a brand came out on top, eventually.
The move away from firearms has helped the brand solidify its customer base.
It has unlocked growth potential, and helped the brand align with the sports world and a more family-friendly customer base.
Lauren Hobart – Net Worth & Salary
So, how much is Lauren Hobart worth? Hobart earned most of her wealth from working at Dick’s Sporting Goods, Pepsi Cola North America, Wells Fargo, and JPMorgan Chase & Co. Therefore, Lauren Hobart has an estimated net worth of $50 million.
Hobart’s annual salary at Dick’s Sporting Goods was not disclosed.
In 2023, she was named a Member of the Board of Directors at Marriott International, Inc.
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