"Under his tenure, Nike made a number of mistakes which have weakened the brand - a shakeup was required to try and draw a line under a period of very bad performance and to demonstrate that serious changes are underway," Neil Saunders, managing director of GlobalData Retail wrote in a note on Thursday.
"A change of jockey does not automatically put the Nike horse out in front," he said, highlighting that investor confidence must translate to consumer trust and engagement.
"Retail sales rose by just 0.1% in August, slowing from a 1.1% increase in July as some shoppers are becoming more cost-conscious and selective with their purchases," indicating a significant shift in consumer behavior.
"Retail CEOs are tasked with navigating these choppy and unpredictable waters. And increasingly, boards seem to be rethinking whether their head honchos are up to the job," signifying a growing scrutiny over leadership effectiveness in retail.
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