From the C-Suite to the Deal Table, Nike & Skechers Bet Big on Change
As tariff tensions rattle the U.S. footwear and fitness equipment industry, Nike is overhauling its C-suite while Skechers is stepping off Wall Street
Nike is overhauling its senior leadership team and splitting its consumer division into three verticals—Consumer and Sport, Marketing and Product Creation—as part of its “Win Now” strategy to accelerate growth.
Alongside the C-suite shakeup, longtime executive Heidi O’Neill has announced her retirement after 26 years with the company but will serve in an advisory role until September. O’Neill recently led Nike’s high-profile partnership with Kim Kardashian’s Skims to launch NikeSkims, a line of training apparel, footwear and accessories designed for women athletes.
It’s the latest revamp at the storied footwear and activewear giant, which named former executive Elliott Hill as CEO last fall to lead its turnaround.
“For nearly three decades, Heidi has been a true champion for Nike, for sport and for athletes across the globe,” Hill said. “Her vision and dedication over the years have left an indelible mark on Nike and created an impact on the world of sport. Among Heidi’s many successes, she most recently elevated our brand voice and innovation and product pipeline by putting sport and athletes at the center of everything we do. I want to thank Heidi for her passion, commitment and service and wish her the best on her next adventure.”
The newly appointed senior leaders will assume their roles immediately, all reporting directly to Hill.
Amy Montagne, formerly vice president and general manager of global women’s, has been promoted to president of Nike. Phil McCartney, previously vice president of footwear, steps into the role of executive vice president and chief innovation, design and product officer. Nicole Graham, who served as chief marketing officer, has been elevated to executive vice president and chief marketing officer. Tom Clarke, a current strategic adviser to the CEO and longtime member of the senior leadership team, will now serve as chief growth initiatives officer.
“I’m confident that with this new structure and leadership team in place we will be able to better line up and leverage all the advantages that make Nike great,” Hill said. “These exceptional leaders bring extensive Nike experience and have been instrumental in resetting our priorities to lead with sport and put the athlete at the center of everything we do.”
Skechers Strikes $9B Deal to Go Private
While Nike reorganizes at the top, Skechers is charting an entirely different course: going private. The footwear and apparel company has agreed to be acquired by global investment firm 3G Capital in a $9 billion deal.
“Over the last three decades, Skechers has experienced tremendous growth,” Skechers chairman and CEO Robert Greenberg said. “Our success has been due to our commitment to excellence and innovation across the entire Skechers organization, in-demand comfort-focused product offering and loyal partners. With a proven track-record, Skechers is entering its next chapter in partnership with the global investment firm 3G Capital. Given their remarkable history of facilitating the success of some of the most iconic global consumer businesses, we believe this partnership will support our talented team as they execute their expertise to meet the needs of our consumers and customers while enabling the Company’s long-term growth.”
Greenberg, along with President Michael Greenberg and Chief Operating Officer David Weinberg, will continue to lead the activewear company.
Both Nike, Skechers and Adidas, along with more than 75 other U.S. footwear companies, signed Footwear Distributors & Retailers of America’s letter last week to President Trump urging him to exempt footwear from the reciprocal tariffs.
“Given the nature of the U.S. footwear industry, American footwear businesses and families face an existential threat from such substantial cost increases,” the letter read. “Hundreds of businesses face the prospect of closure. Tens of thousands of jobs are at stake. Many orders have been placed on hold, and footwear inventory for U.S. consumers may soon run low.”