Nike's (NYSE:NKE) new CEO, who was appointed last October, is making changes to the company's leadership. John Donohoe, who takes the lead position coming from eBay, announced two important changes in high-level positions on February 18.
Both of the new executives are Nike veterans, so while it doesn't signal a new direction for the company, the CEO is bringing a fresh outlook to operations.
Who's in and who's out
Heidi O'Neill, who's been with Nike for 21 years and is currently president of Nike direct, will become president of consumer and marketplace effective April 1. She takes over for Elliot Hill, who has had that title since 2018. Andy Campion, who has been an Nike since 2007 and is the current CFO, will take over from current COO Eric Sprunk.
This comes after Donohoe's appointment and an announcement last week that chief digital officer Adam Sussman is leaving Nike for another company. Mathew Friend, who has had various financial roles within Nike, will become CFO.
"I am delighted to announce a series of leadership changes today which set up the company for continued growth and demonstrate the strength of the Nike management bench," Donohoe said in a statement.
Why its important
O'neill will lead Nike's global brand including sales for the North America, EMEA (Europe, Middle East, and Africa), China, and APLA (Asia Pacific and Latin America) markets as well as Nike direct. Campion will lead digital, logistics, and manufacturing.
Nike is a blue-chip company and the leading athletic wear company in the world, with $39 billion in annual revenue last year. These leadership roles will be an important element in enhancing the company's successes as it embarks on a new path toward retail dominance.