Nike reorganization moves veteran executive to CEO advisor

The longtime Nike Inc. executive will become a senior adviser to CEO John Donahoe and the rest of the executive team, according to an internal memo obtained by Bloomberg.

Thomas Clarke, who joined the company in 1980, most recently served as president of innovation at the athletic footwear giant and will take on the role supporting Donahoe this week, which focuses on growth initiatives, according to the memo. John Hoke, a 30-year company veteran, will take over Clarke’s duties.

Nike has confirmed that Clarke and Hoke are switching roles.

The company is under increasing pressure to improve results amid falling stock and falling sales. Nike recently brought back a retired executive to oversee retail relationships that have deteriorated under Donahoe’s four-year tenure as the company shifted some product distribution to its own channels from chains such as Foot Locker Inc.

Clarke has held several positions at Nike, starting as director of biomechanics research and ending as chief operating officer, according to the company’s website. He also previously served on the company’s board of directors.

In the memo, Donahoe said Clarke’s experience and deep knowledge of the brand put him “in a unique position to help us at this pivotal moment.”