Nike Taps New Executives to Boost Product Development and Marketing
In an effort to accelerate product development and bring new items to market more swiftly, Nike has announced a series of changes to its executive team. The move comes in response to calls from analysts for the company to focus on innovation.
The changes include the appointment of new heads of innovation, design, marketing, and technology. According to company president Heidi O’Neill, the leadership shake-up is intended to further Nike’s innovation, product, design, and storytelling efforts.
Analysts have pointed out that Nike needs to introduce more new products to the market, particularly in running, where competitors are gaining market share. Matt Powell, a senior adviser for BCE Consulting, commented, “Nike has really fallen behind in innovation. During the pandemic they played it very safe with their top-selling items and didn’t bring a lot of new products to market. They’ve recognized that they need to re-energize that engine.”
The executive changes announced by Nike include John Hoke taking on the role of chief innovation officer, Martin Lotti as the new chief design officer, Nicole Hubbard Graham as chief marketing officer, and Muge Erdirik Dogan as chief technology officer. Hoke, Lotti, and Graham will report to O’Neill, while Dogan will report to Nike CEO John Donahoe.
Lois Sakany, director of retail research at OTR Global, noted that the appointment of Lotti as the new chief design officer indicates Nike’s emphasis on expanding its product lines. However, she also echoed Powell’s sentiment, stating that the company has been “being hounded by Wall Street about newness.”
Notably, Nicole Hubbard Graham is the first woman to hold the title of chief marketing officer at Nike, and her appointment signifies the company’s commitment to diversity and inclusivity.
These changes aim to rejuvenate the brand’s innovation efforts and bring more new products to market. The appointees are expected to bring their extensive experience and skills to drive fresh ideas and transform the sports industry for the next generation of athletes.
The new roles of Hoke, Lotti, and Graham are effective immediately, while Dogan will start on Nov. 27 and Graham on Jan. 2. Nike CEO Donahoe expressed confidence in the leadership team’s ability to capitalize on future opportunities and spur profitable growth for the company through innovation and customer-driven strategies.