Nike chief digital officer departs

Nike announced on Monday the resignation of its global chief digital information officer, Ratnakar Lavu, via an internal memo obtained by Business Insider.

The exit was reported by an internal email signed by Nike chief operating officer Andy Campion and confirmed to the paper by Nike. No reason was given for Lavu’s departure.

"We can confirm that Ratnakar Lavu is no longer at Nike," the company said in statement, as reported by the newspaper.

Lavu joined Nike in June 2019, where he appointed Nike's first ever global chief digital officer. He was tasked with leading all of Nike’s global technology functions across the enterprise with responsibility for accelerating new digital capabilities for Nike. Prior to Nike, he was chief technology officer at Kohl’s.

In its most recent trading update in December, Nike's shares soared nearly 15% as investors shrugged off margin pressure at the sportswear giant and focused on the company's efforts to fix its inventory problems that have plagued its business in recent quarters.

Nike reported better-than-expected quarterly results on December 22, benefiting from higher discounts and strong demand in North America.

Nike's sales in North America surged 30%, while those in China - where the business was recovering from lockdowns - fell only about 3%, following a 16% slump in the first quarter.

Nike chief digital officer departs

See also