Nike (NKE, Financial), the world's largest sports apparel company, is undergoing significant leadership changes as it seeks to reverse its recent struggles. The company has appointed Jennifer Hartley, a 14-year veteran at Nike, as the new Chief Strategy Officer. This strategic move comes at a time when CEO Elliott Hill is focused on reviving Nike's performance following a year of weak sales.
Jennifer Hartley will be responsible for developing and executing Nike's strategic agenda, as confirmed by the company's CFO, Matt Friend. Her appointment follows the departure of former Chief Strategy and Transformation Officer, Daniel Heaf, earlier this year. The restructuring led to the integration of his team into the finance department.
Since Elliott Hill took over as CEO in September, he has initiated the "Win Now" strategy to enhance brand competitiveness, focusing on core sports areas and operational efficiency. Despite these efforts, Nike's latest financial results showed declines in revenue, net income, and gross margin compared to the previous year. However, Hill expressed pride in the progress made and emphasized the company's commitment to further improvement.
