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So, Nike's BOD hired a tech guy to helm Nike - You get what you wanted - someone who put digital as the destination, not the strategy to reach the destination. The recent 6day MRT breakdown conveniently reminded me of the once-upon-a-time SMRT BOD hiring Cleopatra Saw to head SMRT. Saw did her job and expanded SMRT commercial profits by leaps and bounds, exactly what the BOD wanted her to do.
On hindsight, Nike BOD weren't immune to the halo effects of "tech is eating the world". Just like Bill Ackman hiring an ex (successful) Apple executive to head JC Penny.
Just do it! Brand Name Lessons from Nike's Troubles
Clearly, the company is taking the decline seriously, bringing back a Nike employee of long standing in Elliott Hill to replace John Donahoe, who cut his teeth in tech companies (ServiceNow, eBay and PayPal).
https://aswathdamodaran.substack.com/p/j...ssons-from
On hindsight, Nike BOD weren't immune to the halo effects of "tech is eating the world". Just like Bill Ackman hiring an ex (successful) Apple executive to head JC Penny.
Just do it! Brand Name Lessons from Nike's Troubles
Clearly, the company is taking the decline seriously, bringing back a Nike employee of long standing in Elliott Hill to replace John Donahoe, who cut his teeth in tech companies (ServiceNow, eBay and PayPal).
https://aswathdamodaran.substack.com/p/j...ssons-from