Nike Taps McDonald's Exec To Lead Communications In CEO Elliott Hill's Overhaul — Retail Caution Lingers

Nike (NKE) has appointed Michael Gonda, a senior executive from McDonald's (MCD), to lead its communications function as part of a management overhaul under new CEO Elliott Hill.

The iconic sporting goods brand is undergoing a transformation following years of sluggish sales, declining market share, and a misstep in removing its products from third-party retailers.

The latest appointment follows a major reorganization in top management and some job cuts in its technology division.

Gonda will start on July 7 and will report to Hill as an executive vice president and chief communications officer at Nike. He succeeds KeJuan Wilkins, who left in March.

Most recently, Gonda was chief impact officer of North America at McDonald's, where is oversaw communications, government relations, and sustainability and philanthropy efforts for the region.

He oversaw the fast-food chain's response following President Trump's controversial campaign stop at McDonald's and helped the company navigate the E. Coli outbreak related to slivered onions in 2024.

Before joining McDonald's in 2019, he oversaw corporate affairs at Chobani.

Although Nike's turnaround efforts started when Hill returned as CEO in October, they have not yet yielded significant results.

In March, Nike reported quarterly earnings and gave a weak outlook, partially weighed by the impact of new U.S. trade tariffs.

Hill has vowed to fix Nike's relationship with retailers, refocus on its traditional core areas, such as basketball and running, and sell more premium products.

On Stocktwits, the retail sentiment dropped to 'neutral' from 'bullish' the previous day.

Nike's shares have climbed over 16% from a recent low on April 8, and several users have turned cautiously bullish in recent weeks.

One user said, "$NKE Looks like selling has finally exhausted. So much room to recover. I can’t believe it is trading this low still."

Nike stock is down 18.6% this year. The company will publish its quarterly results on June 26.

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