Nike announces leadership shuffle under new CEO

A pedestrian walks past an advertisement for Nike.

Dhiraj Singh | Bloomberg | Getty Images

Nike[1], with a new CEO at the helm, announced leadership changes Tuesday that include a new chief operating officer and chief financial officer.

Andy Campion, the current executive vice president and CFO, will replace Eric Sprunk as COO, effective April 1, the company said in a statement[2], adding that Sprunk will depart Nike.

The company said Matthew Friend, its current CFO of operating segments and vice president of investor relations, will become its new CFO.

Nike stock rose less than 1% after hours on the news. Nike has a market value of nearly $159 billion, and its stock has gained more than 19% over the past year.

In October, Nike announced John Donahoe, a Nike board member and former CEO of eBay[3], would replace its longtime CEO Mark Parker, effective[4] Jan. 13. Parker, who was named executive chairman, said at the time of the announcement that he would be “partnering closely with John and the management team.”

As part of the announcements Tuesday, Heidi O’Neill, president of Nike Direct, will become president of consumer and marketplace on April 1. She succeeds Elliott Hill, who will leave Nike, the company said. Nike did not say when Hill and Sprunk will depart the company.

“Heidi and Andy’s leadership has been instrumental in both evolving and driving Nike’s strategy over the last decade,” John Donahoe, president and CEO of Nike said, in a press release. “In their new roles, we will see them have even greater impact on Nike’s success in the future. Matthew brings more than 10 years of Nike experience to the CFO role and will be a great addition to our executive leadership team.”

The leadership changes come as Nike faces mounting scrutiny over allegations of doping as well as gender discrimination. In October, Parker said in an interview with CNBC’s Wilfred Frost[5] that Donahoe should “enable this next level of growth,” digitally, for the company.

1 2 3 4

Share