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

Svyatoslav Biryulin

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What strategic lessons can we learn from John Donahoe’s dismissal?

“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’s CEO, was ousted. 

What strategic lessons can we learn from the story? Read more in my fresh newsletter.

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