Nike Inc. is reorganising its senior leadership team as its new chief executive officer shakes up several top roles at the worldâs largest sportswear company.
CEO Elliott Hill, who came out of retirement to take the top job at Nike in October, said in a statement on Monday that Nike is resetting its priorities and that management has decided to change its structure at the top of the organisation.
Heidi OâNeill, Nikeâs president of consumer, product and brand, will retire as a result of the changes. She joined Nike in 1998 and ran units including Nikeâs direct-to-consumer business. OâNeill will work in an advisory capacity until September.
OâNeill has had âa legacy that will leave a lasting contribution, for which I am personally grateful,â Hill wrote in a note sent to Nike employees that was seen by Bloomberg News.
Amy Montagne, formerly vice president and general manager of Nikeâs womenâs business, will oversee the Nike brand as president. Footwear executive Phil McCartney will be the companyâs chief innovation, design and product officer, while marketing executive Nicole Graham will now lead those efforts across its brands Nike, Jordan and Converse as chief marketing officer.
Longtime Nike executive Tom Clarke, whoâd been serving as a strategic adviser to Hill, was named chief growth initiatives officer. Heâd previously led innovation at Nike.
âIâm confident that with this new structure and leadership team in place we will be able to better line up and leverage all the advantages that make Nike great,â Hill said in the memo.
Hill has been working to reorient Nike, which is coming off a turbulent year of layoffs and sales woes, in his early months as CEO. The latest executive shifts come after many similar moves, with Hill naming new leaders for strategy, sports marketing, human resources and legal departments.
Hill has set out to return Nike to its sports roots, after the company bet big on fashion and lifestyle products. Heâs also re-engaging with retail partners after his predecessor pulled back from wholesalers in favour of Nikeâs own stores and website.
By Kim Bhasin and Lily Meier
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The activewear brandâs shares dropped almost 5 percent after CFO Matthew Friend said he expects fourth-quarter revenue to decline by more than analyst expectations in Nikeâs third-quarter earnings call. Nikeâs turnaround effort faces weak consumer spending and fallout from President Donald Trumpâs escalating trade war.