Nike CEO Shakes Up Executive Ranks -- WSJ
February 19 2020 - 3:02AM
Dow Jones News
By Khadeeja Safdar
This article is being republished as part of our daily
reproduction of WSJ.com articles that also appeared in the U.S.
print edition of The Wall Street Journal (February 19, 2020).
Nike Inc.'s new chief executive officer, John Donahoe, is
shuffling the sportswear company's leadership ranks, a shake-up
that will result in the departure of two longtime executives.
The sports retailer said it was promoting 21-year Nike veteran
Heidi O'Neill to lead its consumer business starting April 1,
elevating a woman to one of the company's most senior leadership
roles. Andy Campion, the company's chief financial officer since
2015, will switch to chief operating officer.
Elliott Hill, the current consumer president, and Eric Sprunk,
the operating chief since 2013, are both leaving the company later
this year, Nike said. Mr. Hill was promoted to his role in 2018,
which was newly created following workplace complaints that
prompted the company's then-No. 2 executive to depart.
Mr. Donahoe, who took over last month as CEO, said the changes
demonstrate the depth of the company's management bench. The former
eBay Inc. chief executive and technology veteran succeeded longtime
Nike chief Mark Parker, who stayed on as executive chairman.
Matthew Friend, currently a Nike finance executive and vice
president of investor relations, will take over as the company's
chief financial officer. Mr. Friend, a former investment banker,
joined Nike in 2009 and has served in various financial executive
roles.
Analysts said they weren't surprised by a changing of the guard
following the board's decision to appoint an outsider CEO or that
Nike has chosen to fill these roles with internal candidates.
"There has been meaningful turnover at the top, and still the
company has been powering forward, illustrating the strength of
their management bench," said Simeon Siegel, a retail analyst at
BMO Capital Markets.
In her new role, Ms. O'Neill, 55 years old, will be responsible
for the Nike brand in all geographies, as well as its global sales
force and direct business.
Ms. O'Neill previously ran Nike's direct retail and e-commerce
business. The responsibilities for Mr. Campion, 48 years old, will
include the company's manufacturing, supply-chain and technology
functions.
Last week, Nike's chief digital officer, Adam Sussman, said he
was leaving the sneaker giant after more than five years to take
over as president of Fortnite developer Epic Games.
--Nina Trentmann contributed to this article.
Write to Khadeeja Safdar at khadeeja.safdar@wsj.com
(END) Dow Jones Newswires
February 19, 2020 02:47 ET (07:47 GMT)
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