Footwear store The Finish Line has announced that Alan H Cohen, the company's co-founder and chairman of the board, has decided to retire.

He will step down at The Finish Line's 2010 Annual Meeting of Shareholders on 22 July 2010.

The board has appointed Glenn S Lyon, currently chief executive officer, to succeed Cohen as the company's chairman.

"It's been 34 years since I co-founded our first athletic specialty store, and I have had a wonderful experience building and growing this company," said Cohen.

"Under the guidance of the board, the company's management team and talented associates, led by Glenn Lyon, have done an outstanding job in helping to take The Finish Line to where it is today. As I take time to pursue my personal interests, I have great confidence that this team will help ensure the company's continued success."

Cohen served as chairman of the board, president and CEO of the company from May 1982 until October 2003.

He stepped down from the presidency in 2003 and remained as chairman and CEO until October 2008.