The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
BEAVERTON, United States — Nike Inc's brand President Trevor Edwards has resigned immediately, the Wall Street Journal reported on Thursday, hours after the world's largest shoe maker said the executive would retire in August.
The Journal said the resignation was announced in an internal memo by Chief Executive Mark Parker that also cited reports Nike had received in recent weeks of "behavior occurring within our organisation that do not reflect our core values of inclusivity, respect and empowerment."
Parker did not specify the nature of the complaints or whether they involved Edwards or any other executives, the newspaper added.
The Journal cited a Nike spokesman saying there were no allegations against Edwards.
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Reuters could not immediately reach Nike for comment outside regular business hours.
In the memo, Parker said Nike was conducting a review of the company's human-resources systems and practices for elevating internal complaints. "This has been a very difficult time," he wrote, according to the Journal.
Nike on Thursday announced Edwards' retirement and said Elliott Hill, the former president of Nike Geographies, would take over as president of consumer and marketplace.
Mark Parker will remain chief executive and chairman beyond 2020.
The moves come nearly a year after Nike made several changes to its leadership structure and streamlined its business segments to four from six. It also eliminated a quarter of its shoe styles and cut 2 percent of its workforce.
Edwards was in charge of that initiative.
Shares of Nike, which is scheduled to report third-quarter results next Thursday, were up marginally in trading after the bell.
By Nivedita Balu and Sangameswaran S; Editors: Sriraj Kalluvila, Matthew Lewis and Richard Chang
From analysis of the global fashion and beauty industries to career and personal advice, BoF’s founder and CEO, Imran Amed, will be answering your questions on Sunday, February 18, 2024 during London Fashion Week.
The State of Fashion 2024 breaks down the 10 themes that will define the industry in the year ahead.
Imran Amed reviews the most important fashion stories of the year and shares his predictions on what this means for the industry in 2024.
After three days of inspiring talks, guests closed out BoF’s gathering for big thinkers with a black tie gala followed by an intimate performance from Rita Ora — guest starring Billy Porter.