Converse set to welcome new President and CEO
Jared Carver, the current CEO and President of the Converse brand, is expected to step down. Nike veteran Aaron Cain is allegedly set to take on the leadership role
According to recent media reports, Jared Carver has decided to leave the leadership of the Nike-owned brand after two years in the role.
“Jared has decided that having established a strong foundation and focused strategy for Converse’s path forward, and in partnership with me, that the time is right for the next chapter of the brand’s evolution. He has built a legacy that has set the course for the next phase of growth and opportunity for the brand”, wrote Eliott Hill, Nike’s president and CEO, in an internal memorandum seen by Reuters and Bloomberg.
He will be succeeded by Aaron Cain, who has worked at Nike for over 20 years and is currently serving as Global Vice President and General Manager of Nike Men’s. The memo stated that Cain and Carver would collaborate until the end of July as part of the transition period.
The news comes amid a period of restructuring at the sportswear giant, which has struggled with slower sales for some time. In the last fiscal year, Nike’s brand sales fell by 9% year-on-year, while Converse’s sales dropped by an even sharper 19%.
Image Credits: runrepeat.com
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