Nike CEO Mark Parker announced today that the brand’s president Trevor Edwards has resigned effective immediately. Parker will remain as CEO and chairman, as well as take on the role of president “beyond 2020,” according to a press release.
The details surrounding Edwards’ exit have not been disclosed. Edwards will transition into an advisor to Parker until his retirement in August.
“I’d like to thank Trevor for the important role he has played for 25 years and for his significant contributions. He has helped us grow and strengthen our brand on a global scale. I am committed to stay in my role as chairman, president and CEO beyond 2020. Trevor has decided to retire,” Parker said in a statement. “We are fortunate to have a strong management team in place who is well suited to drive our next stage of growth and to steward and evolve our culture in the future.”
The Wall Street Journal reported that an internal memo revealed that the company is conducting an investigation into misconduct in the workplace, in addition to a review of human resources practices and its system of reporting complaints.
Watch on FN
“Over the past few weeks, we’ve become aware of reports of behavior occurring within our organization that do not reflect our core values of inclusivity, respect and empowerment at a time when we are accelerating our transition to the next stage of growth and advancing our culture. This disturbs and saddens me,” Parker said in the memo.
Nike has not alleged that Edwards or any of its executives have been accused of inappropriate behavior.
Last year, Parker said Nike accelerated its international growth and fostered momentum in domestic business under a new strategy focused on on digital, innovation and targeting consumers in key cities. “For the back half of the fiscal year, Nike innovation lineup is as strong as it’s ever been, and we’ll continue to actively shape retail through new differentiated experiences,” he explained in December.
Want More?
How Nike’s Slowdown Is Crippling Retailers
Adidas Hits Nike & Under Where it Hurts Most in Q3
