Nike Inc (NKE) Moving Quickly To Address Management Behavior Troubles

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NKE – The abrupt resignation of two key team members has prompted a response from the sneaker giant.

Nike Inc (NYSE:NKE) is reviewing its own misconduct policies as problems with behavior among management and executives have been brought to light. The sneaker giant has released a statement in the wake of a pair of abrupt resignations. 

Bloomberg has the news on what Nike had to say.

Nike Inc., which is reviewing misconduct at the world’s largest sports brand, said it “acted swiftly” when it heard of behavior problems among managers and executives.

“We take these issues very seriously and we were disturbed and saddened to hear of them,” Greg Rossiter, a spokesman for the company, said in an emailed statement. “We are committed to a culture that reflects our values and are taking steps so that all our employees have a positive experience built on respect, inclusivity and empowerment.”

Trevor Edwards, the former president of the Nike brand, and one of his lieutenants, Jayme Martin, have left the company, and Nike’s remarks came in the wake of their departures. Concerns have been raised that a sexist culture may exist at the company, but Rossiter notes that Nike is always committed to the diversity of its roster.

“We are focused on attracting, developing and retaining more women and people of color,” Rossiter added. “We remain strongly committed to accelerating these numbers and increasing the number of women and people of color we have in leadership levels.”

Nike Inc shares were trading at $65.67 per share on Thursday morning, down $0.68 (-1.02%). Year-to-date, NKE has gained 5.31%, versus a 0.94% rise in the benchmark S&P 500 index during the same period.

NKE currently has a POWR Rating of A (Strong Buy), and is ranked #1 of 32 stocks in the Athletics & Recreation category.

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