Personnel

Nike Restructures Corporate Leadership In Digital Push

Nike announced several changes to its senior leadership Wednesday (July 22) as it looks to accelerate digital business and simplify consumer experiences with its Consumer Direct Acceleration (CDA) strategy, according to a press release.

“We are announcing changes today to transform Nike faster, accelerate against our biggest growth opportunities and extend our leadership position,” said John Donahoe, president and CEO of Nike, in the release. “Now is the right time to build on Nike’s strengths and elevate a group of experienced, talented leaders who can help drive the next phase of our growth.”

Michael Spillane will take the lead as president of Consumer Creation. The company also appointed Amy Montagne to vice president and general manager of Nike’s Men’s unit, Whitney Malkiel to VP/GM of the Women’s unit, and McCallester Dowers to VP/GM of Kids.

Nike also appointed Sarah Mensah as the new VP/GM of its Asia Pacific and Latin America (APLA) division, and Carl Grebert will take over as VP/GM of the Europe, Middle East and Africa (EMEA)unit.

The reorganization will also lead to job cuts — the exact amount is unspecified — which will cost Nike $200 million to $250 million, before taxes, in one-time employee termination expenses. Nike said previously that the cuts are not related to their $790 million loss in revenue reported in the fourth quarter.

In an earnings call, Donahoe focused not on the revenue loss but the company’s plans to reboot the company, transforming its digital offerings, consumer services, and in-store experiences.

“We think there’s some pretty fundamental shifts in consumer behavior that give us this opportunity to accelerate our progress. One shift is digital, right?” Donahoe said on the call. “As I said a minute ago, digital is now fundamental and central to everything consumers do, and we are the clear leader in digital. We’ll double-down on that.”

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New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020 

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.

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