It looks like Nike is leaving Russia for good (or at least for the duration of the war, which is likely to drag on). I admit, I didn't see this coming. I support it 100%, but I didn't see this leadership doing something that would potentially hurt the bottom line and their compensation just because it's the right thing to do. I have to admit I'm positively surprised by this development.
5 replies (most recent on top)
They will continue the March toward the new world order.
Nike’s late to the game because it was hedging it’s bets to see how things panned out with other companies actions.
Staying in Russia would be too complicated-logistically and financially-when so many other companies, governments, etc, hace cut ties.
So, no. It’s not a moral stance. Don’t give leadership so much credit.
Let’s not give Nike’s leadership too much credit here. This wasn’t a moral or ethical decision but in reality Nike was forced to follow all of the other western companies out of Russia. If McDonalds, Starbucks, and all others would have stayed you could bet Nike would too. The companies that have stayed are getting a lot of bad press and so its just a matter of time for them too
OP, it was an easy decision to make because there is no profit whatsoever in Russia for Nike. Why stay or why go back and risk the world not liking Nike for it?
Most executives running Fortune 500 companies are failures, everyone knows it. Childish virtue signaling over Ukraine is one of the few ways that they can appear relevant.