Nike has promoted one of its innovation executives to a new role. Tom Clarke, President of Innovation at Nike, is now serving the company as Senior Advisor on Strategic Growth Initiatives, reporting to President and CEO John Donahoe.
In addition, 30-year company veteran and former Chief Design Officer John Hoke will oversee advanced innovation at Nike. Hoke has served as Chief Innovation Officer since November of last year.
As reported earlier, Nike has been reviewing its organization for a while to revive its sales after the company reported a 2 percent decline in Q4 and flat sales in FY24. With Clarke’s internal move, the company is trying to overcome lagging innovation and increasing competition from other brands in key categories such as running.
In recent months, Nike has laid off employees in several waves to cut costs. According to a recent report by Nike, many of the recently laid-off employees were senior executives.
