Sneaker and athletic apparel giant Nike (NKE) is shaking up its executive ranks as it continues to execute on its “Win Now” turnaround strategy.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
In a news release, Nike CEO Elliott Hill said the reorganization is designed to eliminate layers of bureaucracy and improve connections with athletes. The changes include the creation of a Chief Operating Officer (COO) role, which will be filled by Nike veteran Venkatesh Alagirisamy.
Additionally, current Chief Financial Officer (CFO) Matt Friend’s responsibilities have expanded to include oversight of Nike’s global sales and the Nike Direct online sales channel. Hill said that Nike is eliminating its Chief Commercial Officer and Chief Technology Officer positions, resulting in the departure of senior executives Craig Williams and Muge Dogan from the Oregon-based company.
Nike’s Turnaround
Hill is trying to turn around Nike’s sales and share price after years of underperformance. Nike’s sales have slumped in North America and China since the end of the Covid-19 pandemic due to competitive pressures and poor marketing. NKE stock has declined 12% this year and is down 53% since 2020.
Separately, Nike recently raised its quarterly dividend by 3%, lifting it to $0.41 per share. NKE stock offers a strong 2.48% dividend yield. The company has now raised its dividend for 24 consecutive years. Analysts at financial services firm BTIG initiated coverage on NKE stock with a Buy rating, naming it a top pick for 2026.
Is NKE Stock a Buy?
Nike stock has a consensus Moderate Buy rating among 28 Wall Street analysts. That rating is based on 19 Buy and nine Hold recommendations issued in the last three months. The average NKE price target of $85.60 implies 29.38% upside from current levels.
