An internal memo from Nike Inc. states that a seasoned executive will be taking on the position of senior adviser to CEO John Donahoe and the other members of the leadership group.
According to the memo, Thomas Clarke, who joined the firm in 1980, most recently served as president of innovation at the massive sneaker brand. He will now assist Donahoe in a new job that focuses on growth efforts, beginning this week. John Hoke, a 30-year employee of the corporation, will succeed Clarke. The role changes for Hoke and Clarke have been verified by Nike.
The corporation has been facing mounting pressure to enhance performance in the face of plunging stock and declining revenues. In order to manage retail ties, which had worsened during Donahoe’s four years in office as the business moved some product distribution from chains like Foot Locker Inc. to its own channels, Nike recently brought back a retired executive.
According to the corporate website, Clarke had a number of positions at Nike, rising from director of biomechanics research to chief operating officer. He was a board member in the past as well.
Donahoe said in the memo that Clarke was “uniquely positioned to help us during this pivotal point” because of his experience and in-depth brand understanding.
