Nike Inc. has appointed Tom Peddie as the new vice president and general manager of its North America business ahead of the company’s upcoming leadership change. Peddie, who rejoined Nike earlier this year after retiring in 2020, will begin his new role on October 21. He will replace Scott Uzzell, who is departing from the company.
Peddie previously held the same position and will report to Craig Williams, Nike’s president of geographies and marketplace. “Tom’s strong relationships with retail partners and his extensive experience in marketplace integration will be essential for driving Nike’s future success,” Williams said in a memo shared with staff and seen by Bloomberg News.
Nike’s recent challenges have been linked to strategies implemented under former CEO John Donahoe, which prioritized direct sales through Nike’s own retail channels over partnerships with traditional retailers like Foot Locker and Zappos. The company is now working to rebuild those relationships.
Nike’s Chief Financial Officer, Matt Friend, highlighted Peddie’s return during the company’s most recent earnings call, stating that Peddie and his team are focused on reigniting growth through wholesale partnerships. According to analysts, Nike’s wholesale partners have welcomed Peddie’s return.
Nike’s incoming CEO, Elliott Hill, will officially take over on October 14. Despite these leadership changes, Nike’s stock has dropped 24% this year, underperforming the broader market, with the S&P 500 up by 21% through Thursday’s close.
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