Latest news with #NikeInc.
Fashion Network
5 days ago
- Business
- Fashion Network
Nike confirms the retirement of design and innovation leader John Hoke
John Hoke, a longtime top design executive at Nike Inc., is retiring after over three decades of shaping new products at the world's largest sportswear company. Hoke is stepping down as Nike's chief innovation officer, according to an internal memo seen by Bloomberg News. In that role, he had been charged with speeding up the pace of product development. According to the memo, he'll stay on board through October to finish some projects, and Nike plans to name a successor for the position soon. A representative for Nike confirmed Hoke's departure. Hoke didn't immediately respond to a request for comment. The top ranks of Nike's management have shuffled significantly in recent months under chief executive officer Elliott Hill, who came out of retirement last year to try to turn around a sales slump. This month, Footwear executive Phil McCartney was named Nike's new executive vice president and chief innovation, design and product officer. Hoke, an architect, started at Nike in 1992, working on stores and fixtures before becoming involved in footwear. He went on to become Nike's chief design officer for 15 years, overseeing more than 1,000 employees globally, before being put in charge of innovation in 2023. Nike's executive chairman and former CEO Mark Parker worked closely with Hoke over the years to develop new prototypes and products. Hill told employees in the memo that Hoke had a meaningful effect on Nike's growth throughout his tenure, and that his design influence will be seen at Nike for years to come. He credited Hoke with designing the first Niketown New York and the Serena Williams Building at company headquarters in Beaverton, Oregon. In an interview with Bloomberg News last year, Hoke said that his teams had a 'very aggressive agenda' developing a suite of underfoot cushioning technology, including new ways to use Nike's proprietary Air system.
Fashion Network
5 days ago
- Business
- Fashion Network
Nike confirms the retirement of design and innovation leader John Hoke
John Hoke, a longtime top design executive at Nike Inc., is retiring after over three decades of shaping new products at the world's largest sportswear company. Hoke is stepping down as Nike's chief innovation officer, according to an internal memo seen by Bloomberg News. In that role, he had been charged with speeding up the pace of product development. According to the memo, he'll stay on board through October to finish some projects, and Nike plans to name a successor for the position soon. A representative for Nike confirmed Hoke's departure. Hoke didn't immediately respond to a request for comment. The top ranks of Nike's management have shuffled significantly in recent months under chief executive officer Elliott Hill, who came out of retirement last year to try to turn around a sales slump. This month, Footwear executive Phil McCartney was named Nike's new executive vice president and chief innovation, design and product officer. Hoke, an architect, started at Nike in 1992, working on stores and fixtures before becoming involved in footwear. He went on to become Nike's chief design officer for 15 years, overseeing more than 1,000 employees globally, before being put in charge of innovation in 2023. Nike's executive chairman and former CEO Mark Parker worked closely with Hoke over the years to develop new prototypes and products. Hill told employees in the memo that Hoke had a meaningful effect on Nike's growth throughout his tenure, and that his design influence will be seen at Nike for years to come. He credited Hoke with designing the first Niketown New York and the Serena Williams Building at company headquarters in Beaverton, Oregon. In an interview with Bloomberg News last year, Hoke said that his teams had a 'very aggressive agenda' developing a suite of underfoot cushioning technology, including new ways to use Nike's proprietary Air system.
Fashion Network
5 days ago
- Business
- Fashion Network
Nike confirms the retirement of design and innovation leader John Hoke
John Hoke, a longtime top design executive at Nike Inc., is retiring after over three decades of shaping new products at the world's largest sportswear company. Hoke is stepping down as Nike's chief innovation officer, according to an internal memo seen by Bloomberg News. In that role, he had been charged with speeding up the pace of product development. According to the memo, he'll stay on board through October to finish some projects, and Nike plans to name a successor for the position soon. A representative for Nike confirmed Hoke's departure. Hoke didn't immediately respond to a request for comment. The top ranks of Nike's management have shuffled significantly in recent months under chief executive officer Elliott Hill, who came out of retirement last year to try to turn around a sales slump. This month, Footwear executive Phil McCartney was named Nike's new executive vice president and chief innovation, design and product officer. Hoke, an architect, started at Nike in 1992, working on stores and fixtures before becoming involved in footwear. He went on to become Nike's chief design officer for 15 years, overseeing more than 1,000 employees globally, before being put in charge of innovation in 2023. Nike's executive chairman and former CEO Mark Parker worked closely with Hoke over the years to develop new prototypes and products. Hill told employees in the memo that Hoke had a meaningful effect on Nike's growth throughout his tenure, and that his design influence will be seen at Nike for years to come. He credited Hoke with designing the first Niketown New York and the Serena Williams Building at company headquarters in Beaverton, Oregon. In an interview with Bloomberg News last year, Hoke said that his teams had a 'very aggressive agenda' developing a suite of underfoot cushioning technology, including new ways to use Nike's proprietary Air system.
Fashion Network
5 days ago
- Business
- Fashion Network
Nike confirms the retirement of design and innovation leader John Hoke
John Hoke, a longtime top design executive at Nike Inc., is retiring after over three decades of shaping new products at the world's largest sportswear company. Hoke is stepping down as Nike's chief innovation officer, according to an internal memo seen by Bloomberg News. In that role, he had been charged with speeding up the pace of product development. According to the memo, he'll stay on board through October to finish some projects, and Nike plans to name a successor for the position soon. A representative for Nike confirmed Hoke's departure. Hoke didn't immediately respond to a request for comment. The top ranks of Nike's management have shuffled significantly in recent months under chief executive officer Elliott Hill, who came out of retirement last year to try to turn around a sales slump. This month, Footwear executive Phil McCartney was named Nike's new executive vice president and chief innovation, design and product officer. Hoke, an architect, started at Nike in 1992, working on stores and fixtures before becoming involved in footwear. He went on to become Nike's chief design officer for 15 years, overseeing more than 1,000 employees globally, before being put in charge of innovation in 2023. Nike's executive chairman and former CEO Mark Parker worked closely with Hoke over the years to develop new prototypes and products. Hill told employees in the memo that Hoke had a meaningful effect on Nike's growth throughout his tenure, and that his design influence will be seen at Nike for years to come. He credited Hoke with designing the first Niketown New York and the Serena Williams Building at company headquarters in Beaverton, Oregon. In an interview with Bloomberg News last year, Hoke said that his teams had a 'very aggressive agenda' developing a suite of underfoot cushioning technology, including new ways to use Nike's proprietary Air system.
Fashion Network
20-05-2025
- Business
- Fashion Network
Nike lays off tech workers amid department shakeup
Nike Inc. has laid off employees within its technology division as part of a broader restructuring to realign strategic priorities. According to sources familiar with the matter, the job cuts affected staff in the company's strategic enterprise and corporate functions departments, which oversee key business processes. One source noted that Nike is shifting some of that work to third-party vendors. A spokesperson for Nike confirmed the departure of tech workers. Since returning from retirement to take over as chief executive officer in October, Elliott Hill has implemented significant changes in leadership across the organization. He has appointed new heads for several departments, including strategy, human resources and sports marketing. Muge Dogan, formerly of Inc., remains Nike's chief technology officer. Nike's technology unit has faced challenges in recent years. In 2023, its chief digital information officer exited the company amid bribery allegations. A former employee later filed a lawsuit in Oregon related to those accusations. Hill's efforts to turn around the business come amid declining sales and waning investor confidence. Analysts point to the previous leadership's heavy focus on lifestyle products, which strained relationships with retail partners and shifted the brand away from its sports-driven roots. The company's strategy to reignite growth includes a renewed focus on sports and wholesale channels. However, progress has been hindered by trade tensions under U.S. President Donald Trump and inconsistent consumer spending in the domestic market. Nike shares have fallen 18% so far this year through Monday's close, significantly underperforming the S&P 500 Index, which has risen 1.4% during the same period.
