Consumer
Nike Brings Back Retired Executive to Fix Slumping Sales
- Company rehires 30-year-veteran Tom Peddie to senior role
- Sneaker giant trying to mend relationships with retailers
A Nike store in Barcelona, Spain.
Photographer: Angel Garcia/BloombergThis article is for subscribers only.
Nike Inc. has rehired a retired senior executive to oversee retail partnerships after relationships with sneaker sellers soured and sales dropped.
Tom Peddie, a veteran executive who worked at Nike for 30 years before the company announced his retirement in 2020, is returning as its vice president of marketplace partners, according to an internal memo seen by Bloomberg. Nike confirmed the move on Tuesday in an e-mailed statement.