Nike brand president resigns

Nike Inc’s namesake brand President Trevor Edwards has resigned and will retire in August, a company spokeswoman said on Thursday.

Earlier on Thursday the Wall Street Journal, citing an internal memo, reported that Nike had received in recent weeks reports of “behavior occurring within our organization that do not reflect our core values of inclusivity, respect and empowerment.”

There has been “conduct inconsistent with Nike’s core values and against our code of conduct,” the spokeswoman said, adding that there have been no direct allegations of misconduct against Edwards.

“When we hear of claims we investigate and take the appropriate action,” she said.

Edwards will now serve as an adviser to Nike Chief Executive Officer Mark Parker until his retirement, she added.

Elliott Hill, the former president of Nike Geographies, will take on the new role of president of consumer and marketplace, Nike said.

Parker will remain chief executive and chairman beyond 2020, Nike said.

The moves come nearly a year after Nike made several changes to its leadership structure and streamlined its business segments to four from six. It also eliminated a quarter of its shoe styles and cut 2 percent of its workforce.

Edwards was in charge of that initiative.

In the memo, Parker said Nike was conducting a review of the company’s human-resources systems and practices for elevating internal complaints, according to the newspaper. “This has been a very difficult time,” he wrote, according to the Journal.

Parker did not specify the nature of the complaints or whether they involved Edwards or any other executives, the Journal said.

Shares of Nike, which is scheduled to report third-quarter results next Thursday, were up marginally in trading after the bell.