uploads/2018/04/shoes-1011596_1280.jpg

Another Management Shake-Up at Nike

By

Updated

Four more senior executives exit Nike

In yet another round of management shake-up, four of Nike’s (NKE) senior executives parted ways with the company this week. Antoine Andrews, Nike’s vice president of diversity and inclusion, left the company for undisclosed reasons on April 16, according to Bloomberg. Andrews joined Nike in 2015.

Daniel Tawiah, vice president of global digital brand marketing innovation, and Vikrant Singh, senior brand director for Nike basketball, exited the company on the very next day. On Wednesday, April 18, Greg Thompson, vice president of Nike footwear, left the company. Thompson worked with the sportswear giant for about a decade. Nike’s stock has fallen around 1.6% over the last three days. It is now sitting at a YTD (year-to-date) gain of 5.8%.

Article continues below advertisement

What’s behind the current exits?

The current string of departures appears to be linked to the company’s ongoing efforts to overhaul workplace culture. Last month, Trevor Edwards, the Nike brand president and heir apparent to CEO Mark Parker, resigned from the company. Nike circulated an internal memo announcing the departure of Edwards, although it didn’t specify the reasons behind his exit.

The memo, however,  talked about “boys’ club” work culture and stated that there have been complaints about “behavior occurring within our organization that do not reflect our core values of inclusivity, respect and empowerment.”

A day after Edwards’s departure, Jayme Martin, Nike’s vice president, also parted ways with the company.

The Wall Street Journal reported, “Martin and Edwards protected male subordinates who engaged in behavior that was demeaning to female colleagues, according to another person. Their lieutenants bullied people who weren’t in their group, this person said, such as women and individuals from foreign countries.”

Advertisement

More From Market Realist