Nike (NYSE:NKE) shook up its leadership team on Thursday with an eye on preserving the company’s solid momentum while boosting its dedication to product innovation and brand storytelling. Heidi O’Neill, current President of Consumer & Marketplace, is stepping into the role of President, Consumer, Product & Brand. Meanwhile, the Jordan Brand’s head honcho, Craig Williams, will become President, Geographies & Marketplace, while Matthew Friend, EVP & Chief Financial Officer, is taking on an expanded role to include Procurement, Global Places & Services, and Demand and Supply Management.
In a twist, Chief Operating Officer Andy Campion is transitioning into a newly-minted position as Managing Director of Strategic Business Ventures. He will work in tandem with CEO John Donahoe to chase down new business opportunities for boosting Nike’s growth. The changes aim to supercharge Nike’s focus on product innovation, brand storytelling, and the marketplace. The company is looking to delve deeper into consumer insights, bringing about game-changing innovation and engagement and creating a long-term plan for growth and profitability.
Turning to Wall Street, analysts have a consensus price target of $138.96 on NKE stock, implying 28.23% upside potential, as indicated by the graphic above.
