John Rogers, Jr., a director of NIKE, Inc. since 2018, will retire from the NIKE, Inc. Board of Directors at the September 2026 Annual Meeting of Shareholders. Rogers will not stand for re-election, and his retirement will be effective following the meeting. He will transition to a strategic advisor role, focusing on the future of sport and social community impact.

Mark Parker, Executive Chairman of NIKE, Inc., thanked Rogers for his eight years of service and guidance. Parker highlighted Rogers' leadership in business and finance, as well as his dedication to civic and community causes. The company expects to benefit from his continued expertise in driving positive change globally.

Rogers expressed pride in his tenure and the company's accomplishments over the past eight years. He looks forward to supporting Nike in a new capacity, particularly in its impact on sport, athletes, and communities. Rogers remains confident in Nike's future and its mission.

Board Transition Details

The transition marks a significant change in NIKE, Inc.'s governance structure. Rogers' departure from the Board follows his eight-year tenure, during which he contributed to the company's strategic direction. His new role as a strategic advisor will allow him to continue influencing Nike's community and sport-related initiatives.

About NIKE, Inc.

NIKE, Inc., headquartered in Beaverton, Oregon, is the world's leading designer, marketer, and distributor of authentic athletic footwear, apparel, equipment, and accessories. Converse, a wholly-owned NIKE, Inc. subsidiary brand, designs, markets, and distributes athletic lifestyle footwear, apparel, and accessories.

RBC Capital Markets downgraded Nike Inc. to Sector Perform from Outperform and reduced its price target to $50 from $70, citing slower-than-expected revenue growth and a delayed turnaround. Analyst Piral Dadhania, leading the coverage, revised the outlook just ahead of the FIFA World Cup 2026, a event Nike had heavily banked on for a sales recovery. The new rating reflects a neutral stance, with the firm warning that benefits from CEO Elliot Hill's strategy will likely materialize only in 2027, rather than 2026 as previously assumed.

The firm cut its profitability forecasts for Nike by 9% for 2027 and 13% for 2028, leaving estimates 2% below Wall Street expectations. RBC projects Nike's revenue growth to reach just 3%, significantly trailing the industry average of 6%. The analysts highlighted that generating stronger consumer demand remains the company's biggest challenge, noting that while Nike leads in lifestyle footwear, it lags behind competitors like Hoka and New Balance in running shoes, and Vuori, Alo Yoga, and Lululemon in premium women's apparel.

Nike's turnaround efforts have faced headwinds, including a 4% decline in Nike Direct revenues despite a third-quarter revenue beat of $11.28 billion against estimates of $11.24 billion. The company has also undergone significant restructuring, including laying off 775 employees at U.S. distribution centers in early 2026 and cutting 1,000 corporate jobs the prior summer. While Nike is reportedly in talks to replace Adidas AG as the official match ball supplier for UEFA men's club competitions from 2027 to 2031, analysts caution that sponsorship deals alone are insufficient without meaningful product innovation.

On a year-to-date basis, Nike shares declined 30.53%. The stock closed at $43.96 on Wednesday, down 1.55%.