NIKE Inc. Chief Executive Officer Elliott Hill named a new head of communications, capping months of ousters, promotions and hirings as he tries to revive growth at the world’s largest sporting brand.
Since Hill came out of retirement and returned to Nike in October, he’s changed most of the top positions under the CEO. And with the hiring of Michael Gonda from McDonald’s Corp. as chief communications officer, Hill has finished revamping Nike’s top ranks, according to a person with knowledge of the matter.
Hill said on Monday in a memo to employees seen by Bloomberg that this is a critical moment for Nike, and that Gonda, who will start in July, has experience leading organizations through periods of internal transformation.
Nike has posted four straight quarters of declining sales amid more intense competition and weakening discretionary spending. As results began to fade last year, the company brought back Hill, a former top executive. His strategy is to move the company back toward sports after previous management pushed deeper into fashion.
The company’s shares rose 1.3% at 3:30 p.m. on Monday. The stock had declined about 20% through Friday’s close.
Before the hiring of Gonda, Hill had named new heads of sports marketing, legal, human resources and growth initiatives. The Nike brand got a new leader in Amy Montagne, who previously ran its women’s business. The company also named a new chief of innovation, design and product in longtime footwear executive Phil McCartney.
Hill has also elevated his supply chain boss and selected new executives to lead strategy and diversity efforts. –BLOOMBERG
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