Episode 15. Once Trusted, Then Ousted: Customers Have Fired Nike’s CEO

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June 28th 2024 Nike Q2 24 financial results 25bn of market cap lost in a day 70 in 9 months 130 million shares exchanged in the stock market 13 times the average number of daily transactions The lowest share price since 2018 – 32 since the beginning of 2024 It was the judgment day for Nike That day Nike had its worst day in the stock market since going public in 1980 On September 19 Nike Inc announced that John Donahoe the company apos s CEO was ousted Nike s board of directors terminated the contract with Donahoe but it didn t sack the CEO customers did They stopped buying Nike apos s sneakers They stopped boasting about them on social media They pulled out of the value exchange It hurt Nike s numbers and the board just did what it had to do What strategic lessons can we learn from the story Learn from this episode of Strategic Seeing podcast

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