I left Nike. But when I was there it was commonplace for VPs that were past their perceived glory days to get a soft, 2-year exit plan. Basically the VP would be given a less important role in a less important department then coast for 2 years before “deciding to retire”. It was a kind of grace that swoosh extended to falling stars. A place where they couldn’t do much damage. Does it still happen?
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Yup this still happens. And as you correctly say OP it’s a common practice. The only difference now is that sometimes the VP isn’t given a full two years. Sometimes they’re on the 1 year plan before they “voluntarily retire”.
In most cases I don’t have a problem with this practice. It’s a gracious way to tell certain VPs - many of whom have in fact made significant contributions to Nike - that it’s now your time to go.
The only thing that’s always awkward about it is the presentation. When the VP “retires” Nike pretends that this wasn’t a managed termination and everyone else politely pretends like they don’t know exactly what has happened.
As a side note to newer employees: this is a good reminder that careers at Nike are not always a straight line upwards. You can be a star or even a superstar at Nike at one point in your career but later deemed no longer relevant for any of a number of reasons. Sometimes it’s unfair and sometimes not. I’ve seen it go both ways.