Nike Announce Leadership Reshuffle Amid Ongoing Market Turbulence

There are more updates from Beaverton as continue to dominate industry headlines in recent weeks. The Swoosh have announced the promotion of Tom Clarke to the role of strategic advisor to CEO John Donahoe. Clarke, who has been with Nike for over 30 years, previously served as the president of innovation. In his new role, Clarke will work closely with Nike’s executive team to drive strategic initiatives and long-term growth plans.

Nike also revealed that John Hoke, a 30-year veteran and former chief design officer, will assume the role of advanced innovation lead. Hoke has been Nike’s chief innovation officer since November. Earlier this week, Nike also rehired former senior executive Tom Peddie as vice president of marketplace partners.

The significant leadership reshuffle comes as Nike continue to face ongoing market turbulence.The by 20 per cent following the release of weak quarterly earnings and a downgraded future outlook. This steep fall wiped out approximately $28 billion of shareholder value and represents the largest one-day percentage decrease in Nike's shares since the company went public in 1980​.

In more positive news for the Swoosh, Nike and the opened their in Mexico City this week. The impressive three-floor space spans more than 22,000 square feet and is Nike’s largest retail space in Latin America, as well as their only dual-brand shopping location for both Nike and Jordan apparel and footwear.