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Dive Brief:
Nike has announced that on Oct. 21, Tom Peddie will move from his role as vice president of marketplace partners to replace Scott Uzzell as general manager of the North America geography. Peddie, a 30-year Nike veteran who retired in 2020, just returned in July to take the marketplace partners job.
Uzzell has decided to leave the sports apparel giant, per a Thursday press release. Nike said that Peddie’s replacement in his marketplace role will be announced soon.
By the time Peddie makes the switch, the company will have a new CEO, as longtime Nike executive Elliott Hill comes out of retirement on Monday to replace John Donahoe, who himself will have retired the previous day.
Dive Insight:
Nike is pulling executives out of retirement to help recalibrate its sales strategy.
The company has been contending with declines in North America, by far its largest market. Its fiscal year closed out at the end of May with net sales in the region down 1% to $21.4 billion and overall results disappointing many investors. The brand is also losing favor with teens, though it’s hanging on to its top spot, according to the most recent Piper Sandler survey.
Under Donahoe the company moved to correct a hard swerve toward direct-to-consumer that analysts and now the company itself say underestimated the importance of wholesale partnerships to move sales. Investors have also dragged the brand to court over the strategy.
In his decades-long career at Nike, Peddie’s responsibilities included leading global sales and emerging markets, per Thursday’s release. That experience appears to be instrumental to the task of rebalancing wholesale and DTC, according to a statement from Craig Williams, president of geographies and marketplace.
“No one is more qualified to lead North America’s next stage of strategic growth, grounded in sport,” he said. “Importantly, Tom’s outstanding relationships with our retailers and deep experience developing an integrated marketplace will be critical to accelerating our future success.”
In his new role, Peddie will lead all aspects of the all-important North America region, including direct, sales, marketing, digital, and consumer construct and territories, among others.
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Publish date : 2024-10-11 00:05:00
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