Look at the stock. Zero growth since JD assumes CEO position Jan 2020.
His cost cutting, consultants, hyperbole, DEI, tech, CDA all have failed.
When will the board of directors cut their loss and make needed management change?
15 replies (most recent on top)
thanks phil knight donating another billion to dei!
Next board meeting date?
@1spk+1qBAhL1w Hopefully they close the SF office. What a joke.
@1sxd+1qBAhL1w This is every consultant, ex consultant, strategy and finance leader in a nutshell. All theory, no execution
It seems he is a smooth talker but he is devoid of content. Not sure he truly understands the business model and company. This is typical of most consultants. They are merely salesmen. When you dig deep you will find they don’t understand or care to understand. It’s like going through the motions. It’s a show and they are a performer. We don’t need a performer we need someone to pilot this ship through rough seas.
@yjg+1qBAhL1w great breakdown but this site isn’t used to logic so blaming DEI or CDA or whatever acronym they last heard is much much easier.
@1spk+1qBAhL1w Ahhh ok. 200k for director is normal. 200k for grade 40 and below, is not.
@1lol+1qBAhL1w @1wql+1qBAhL1w I think you misunderstood my post. I am not talking about Nike's pay to its employees in general but during a specific time frame (the pandemic). This is when they opened up the Bay Area office. Do you know how much the ICs in that area make? Easily 200K+ in salary. And don't get me started on the numerous Directors, Sr. Directors, and VPs that were brought in from that area.
Nike doesn't need to pay these people that much, especially since they are primarily remote since we never opened up the BATC office (although SF office always existed). This is what I mean by overpaying and overhiring. We don't need BATC. Let them go.
When JD came in self-anointing himself as a “servant leader” we were sc--wed with this CEO choice… No legit business leader takes this approach.
Self indulgent style only serves himself and shareholders, never has connected with employees, understands product innovation, or the inspirational ethos fueling an athletic company. He’s a cost cutting consultant.
@lyf+1qBAhL1w you do realize the same salary in 2020 would need to be 19% more in 2023 in Oregon to afford the same standard of living, don't you?
Don't perpetuate the "we overpaid' narrative when in reality we have been underpaying and for the first time in decades had to pay competitive wages that maybe were appropriate for what employees are worth.
If you mean we overpaid for JD or other execs and there should be a maximum on the gap between the highest and lowest paid individuals in the company, then maybe you're on to something...
@lyf+1qBAhL1w You really think home prices doubling call for cheaper labor?
Ok. Good luck with that one
Pulling this from another thread… not sure I’d say overpay when waves haven’t kept up with inflation for decades and Nike has the least amount of employees per revenue and profit than any other company in the industry
Nike: $51.469b revenue, $5.07B net income, 83,700 total employees = $614k revenue and 60k net income per employee
Adidas: $23.34B revenue, $-0.227B net income, 57,016 employees = 409k revenue and -4K net income per employee
LuLu: $9.186B revenue, $0.855B net income, 34,000 employees = 270k revenue and $25 net income per employee
You also can’t compare growth % of a $50BN brand to a $1BN brand. They are in completely different leagues and that Nike is worrying about a competitor less than 1% of its size tells me we are focused on the wrong things.
It also may be that Nike is shifting from a growth to a dividends company. Just good for thought.
@fit+1qBAhL1w Nike, like others, did over hire and overpay during the pandemic, so it is reasonable to scale back. However, we are falling behind in terms of growth when compared to our competitors (eg. On, Hoka). CDA is a complete failure. Hiring RAT was a failure. Opening up the expensive Bay Area office and getting very little in return is a failure. This is on JD, and he deserves to be held accountable for those decisions. Time for him to go.
This is literally the same for every other company in the world right now. Correction to precovid levels. It’s what the Fed wanted with taming inflation and it extends to markets as well.
Chill out. Nike is still leagues beyond any other company it it’s stratosphere and the fact it hasn’t done worse under the circumstances or w good thing
HON is the next in line for the job, and quite frankly, I don’t think Nike is in any rush to change the guards. That said, they’ll wait for something to spin up hysteria in the public space, hang and blame it on JD, announce HON as the new visionary for the company, and literally flush the last 5 years from memory.
It’s so funny it’s sad.