Nike’s No. 2 executive resigns, company reviews workplace complaints

By RetailFOXBusiness

Nike shares climb on Q2 earnings

FOX Business’ Nicole Petallides reports on Nike’s second-quarter earnings statement and what this means for sports retailers.

Nike Inc. is investigating allegations of workplace misconduct and told employees its second-most senior executive has resigned effective immediately under unspecified circumstances, the Wall Street Journal reported on Thursday.

Continue Reading Below

Company CEO Mark Parker disclosed the resignation of Trevor Edwards, president of Nike brand, in a memo to staffers. The memo added that Nike is reviewing its human resources practices and procedure for reporting complaints. Parker said he would remain Nike’s chairman, president and CEO “beyond 2020” after Edwards’ departure.

“Over the past few weeks, we’ve become aware of reports of behavior occurring within our organization that do not reflect our core values of inclusivity, respect and empowerment at a time when we are accelerating our transition to the next stage of growth and advancing our culture. This disturbs and saddens me,” Parker wrote.

It’s unclear if Edwards’ exit is related to the allegations of workplace misbehavior, or if any Nike executives stand accused of misconduct. Edwards will retire from Nike in August.

“We have made a decision to realign our team to accelerate our business and evolve our culture,” a Nike spokesperson told FOX Business. “There have been no direct allegations of misconduct against Trevor Edwards.”

The report comes days ahead of Nike’s next quarterly earnings report. The sportswear giant will disclose results for its third fiscal quarter after market close next Thursday.

This story has been updated.

What do you think?

Click the button below to comment on this article.