Nike (NKE) will replace Converse CEO Jared Carver with Aaron Cain, a vice president and general manager of Nike’s global men’s business, Bloomberg’s Kim Bhasin and Lily Meier report, citing an internal memo. The move comes as the apparel giant aims to reverse a lengthy sales slump for the Convers brand, the authors note. Shares of Nike are up 1.4% in afternoon trading.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NKE: