Vice president of marketplace partnerships Tom Peddie, a seasoned executive who spent thirty years with Nike before the business announced his retirement in 2020, is rejoining the company.
Source – (Nike)
Sales of the company are still declining, and as of Monday, the company’s stock has dropped 33% this year. (Nike)
Under CEO John Donahoe, Nike has pulled products from several stores in favour of its own stores, e-commerce, and applications. The company is now working to mend relations with its merchants, including Foot Locker Inc. Sales of the company are still declining, and as of Monday, the company’s stock has dropped 33% this year.
Nike’s president of regions and markets, Craig Williams, wrote in the memo, “As we continue to focus and improve capabilities in our wholesale business, I am confident that Tom will bring both vision and bold leadership to accelerate the Marketplace strategy.”
Peddie worked for Nike for a while and held a number of senior management positions. He was a general manager of North America and vice president at his previous position. The memo stated that his return to Nike was scheduled for June 24.
Requests for comments were not immediately answered by Peddie or a Nike representative.
