JD took over for MP in January 2020. The stock has increased 9% in this time ($101/share to $110/share currently) despite dedicated restructuring and cost efficiency efforts. JD is managing Wall Street or FTEs? Both? At what point does the board of directors prioritize the Nike people/culture which has been the company’s competitive advantage?
8 replies (most recent on top)
I did some research on JD while I was at Nike. What he publicly said about being proud at making job cuts inside the businesses he manages. He wasn't installed for growth. He was installed to reduce labor costs. IMO.
Cut out losses with JD. His salary vs the minuscule return (see stock price) don’t add up.
Adding insult to injury he hosts these stupid effing all hands meetings that are mind numbing at best. It’s ALL HANDS - give us some info about the company.
He is not a good leader. He is spending copious amounts of money traveling all over the world then brags about it. He is not self aware and that is painful.
Be gone JD!!!
JD has been terrible for tech. His legacy in my eyes is gutting the most effective parts of the org and forcing everyone to wake up at 5am to work with $25/hr “programmers” in India.
He “saved” money but only on a spreadsheet.
I'm in the HON boat, I think JD probably has a year left, he'll move to the board again or move to COTB.
I'll look back on the JD's era as a tech investment. Probably needed, probably burned a lot of capital, definitely hired some (maybe a lot in tech) wrong people, but at least we have somewhat more modern tech. Hoping this investment and time pays off in the product in the future.
I think HON or CW will bring us back to the roar that we had in product.
just so everyone reading this is aware, could you op elaborate what is this "culture" you are talking about?
facts
Let Nike, be Great Again. Let Nike be NIKE again.
If no one remembers what it was to be great, call old people back in.
Here is a shocker, Nike was never filled with "Cool" people, smart people, yes, hard working people, almost always.
PHK's greatest asset, after being a lot smarter than people realize, HE IS A GRINDER.
Except for New Balance, and then only in the last ten years, all of Nike's competitors were shams and knock offs, supported by retailers desperate to prevent themselves from becoming de facto Nike Stores.
All these companies fell by the way side, THE GRINDER ALWAYS COMPTETED TO THE END. Many never really competed at all.
It is spelled NIKE, not NOKE. Shoes and Apparel, not culture.
The company never led culture in the past, it created the best athletic and exercise products, so it's Customers, who pay, and thus produce profit for the company, would consistently, readily, purchase these innovative tools, and lead great lives with those products.
Creating a successful life with Nike products, made Nike products successful.
PHK and now THK, control the Board and the stock, uniquely for a company of Nike's size and history. Two Classes of Stock.
The Board looks like a model for BlackRocks DEI, of a McKinsey Boot Camp. Does anyone look like they sweat.
Is JD Perez, no, JD is an empty suit, was at every company he was ever at, the modern Nike, after Phil, was pure MP, who had a long time to absorb, get a lot right, a little really wrong. JD had no chance to be MP, not an authentic bone in his body.
His performance gave him every right to retire to CHB, not sure what drove him to take on fixing a mess like Disney.
You buy better at auction when you have an insiders perspective though.
Does HON have the courage to throw a "Bu-----e" meeting at Sun River, to cure this malaise. He-l, can you even say "Bu-----e" now.
PHK can dictate anything he wants, he has never been wealthier, more liquid. Cull the Board in half, cull the product line in half, stop saying you will grow and grow, like it is either achievable or desirable.
You did GRAT, perhaps back off a bit, build great products again, and see how they sell, reconnect with your old families, stop being a fashion drop business, PHK once said Nike would never be a Fashion company, I was there.
People are chasing quality in shoes, that are not Nike now, if that is not an indication of what is wrong I do not know what is. Nike shoes break down so fast it is embarrassing, the ones you wear to exercise in, not the fashionable and stroll occasionally in.
The Return of the King is called for. But I think HON is up to the battle also.
Was it the people and culture that made it unique? I’d say product innovation is what made us cool. Not drinking and having lavish parties all day everyday.