Nike Inc (NYSE:NKE, ETR:NKE) has announced the return of an executive to head its North America business ahead of the arrival of its new CEO Elliott Hill.
Tom Peddie will take on the role of vice president and general manager for North America, Nike said in a statement on Thursday.
Peddie, who has previously held the position, will be reporting to Nike’s president of geographies and marketplace Craig Williams.
He replaces Scott Uzzell, who has decided to leave Nike.
Peddie will return to the position on October 21, a week after Hill takes over as CEO on October 14.
“I’m excited to welcome Tom Peddie back to North America. No one is more qualified to lead North America’s next stage of strategic growth, grounded in sport,” Williams commented.
“Importantly, Tom’s outstanding relationships with our retailers and deep experience developing an integrated marketplace will be critical to accelerating our future success.”
Nike shares traded modestly lower at $81.65 on Friday, down more than 23% in the year-to-date compared to a 21% increase in the S&P 500 index over the same period.