Published: Sat, March 17, 2018
Money | By Hannah Jacobs

Nike president resigns, workplace behavior cited

Nike president resigns, workplace behavior cited

Nike representatives told the Journal and Bloomberg that there are no direct allegations against Edwards.

Edwards was seen as a possible Parker successor. Analysts are pointing to the deep bench at the Swoosh, including current COO Eric Sprunk.

Shares of Nike, which is scheduled to report third-quarter results next Thursday, were up marginally in trading after the bell.

Nike trades 0.20% higher in premarket trading. In it, Parker says Edwards' departure coincides with a broader pattern of employee complaints about behavior that goes against the company's ethos of "mutual respect, inclusion and teamwork".

Nike said in a statement that "there has been conduct inconsistent with Nike's core values and against our code of conduct". This includes Elliott Hill taking over as President of Consumer and Marketplace.

The executive, Jayme Martin, served as a vice president and general manager of global categories for Nike and reported to Edwards.

Reuters could not immediately reach Nike for comment outside regular business hours.

Mark Parker will remain chief executive and chairman beyond 2020. Following Edwards resignation, Nike will "allow for closer management and a sharper focus on our culture", the memo disclosed.

A second Nike Inc. executive is departing the company as it conducts a review of improper conduct at the athletic-apparel giant.

"I'd like to thank Trevor for the important role he has played for 25 years and for his significant contributions", Parker stated.

"He has helped us grow and strengthen our brand on a global scale", Parker said.

Edwards joined Nike in 1992 and will retire in August.

"I am committed to stay in my role as Chairman, President and CEO beyond 2020".

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