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Companies Updated: April 12, 2024

Nike CEO blames remote work for company's decline

By Lawrence Agbo
April 12, 2024
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Nike CEO John Donahoe acknowledges that the company's innovation has slowed and there is a shortage of fresh products, blaming remote work for the setback. 

In an interview with CNBC's Sara Eisen, Donahoe highlighted the challenges of developing bold innovations while working remotely, stating, "It's really hard to do bold, disruptive innovation, to develop a boldly disruptive shoe on Zoom."

Investors have raised concerns about the lack of new products in Nike's lineup.

Despite facing criticism and implementing a broad restructuring plan, including job cuts, Donahoe remains optimistic about Nike's position in the market.

He emphasizes the company's continued dominance in running and commitment to innovation across all product categories.

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Lawrence Agbo

Lawrence is a vibrant digital journalist that loves creating SEO-focused content that drives busines...

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