Person
Elliott Hill is Nike's president and CEO, a longtime company veteran who returned from retirement to lead the sportswear giant.
Nike will build a global corporate campus in Bengaluru, announced with fiscal first-quarter results in which Greater China revenue fell 26%. The campus opens in a few years, so it cannot cover this year's China shortfall.
Reality
Nike will start deciding which roles to cut in 2027, joining Meta and GitLab in announcing layoffs before naming who is affected. Voluntary exits during the wait may trim severance, though an employment lawyer warns the leavers can include people the company would have kept.
Reality
Nike now expects fiscal 2027 revenue to fall after $11.21 billion in first-quarter sales missed estimates and Greater China sank 26% currency-neutral. Its Pace overhaul adds about $300 million of charges this fiscal year, with role cuts from 2027 and savings stretching to 2031.
Perspective Coverage
4 publishersReality
S&P Dow Jones Indices removes Nike from the S&P 100 on the 21st after 18 years, a market-cap ranking catching up with a global footwear share that fell three points and a China business down from nearly 20% of revenue to about 13%.
Reality
Wholesale is back to $6.6 billion and running has five double-digit quarters. Strip wholesale out and the rest of Nike shed roughly $365 million in the fourth quarter.
Reality
Russell Reynolds counted 34% of first-half 2026 S&P 500 CEO appointments going to someone who had already led a public company, up from 22%. Each one closes a promotion chain.
Reality