Nike CEO Shakes Up Executive Ranks -- WSJ

Date : 02/19/2020 @ 8:02AM
Source : Dow Jones News
Stock : Nike Inc (NKE)
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Nike CEO Shakes Up Executive Ranks -- WSJ

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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)

Copyright (c) 2020 Dow Jones & Company, Inc.

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