Morning Brew Daily Nike CEO Abruptly Steps Down After Struggling Sales & 23andMe in Turmoil
Sep 20, 2024
Nike's CEO steps down as the company faces declining sales, raising questions about leadership stability. Meanwhile, 23andMe's entire board resigns, signaling internal strife. Olive Garden partners with Uber for convenient breadstick delivery, while Trump Media's stock is set to drop as key shareholders sell off. Starlink's satellites pose challenges for astronomers, and a gymnast fights to reclaim her medal with new compelling evidence. Corporate drama and cosmic conflicts collide in this intriguing mix of business and sports.
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Nike CEO Steps Down
- Nike's CEO, John Donahoe, is stepping down after struggling sales and a 20% stock crash.
- Donahoe's focus on e-commerce and older models hurt the brand's coolness and wholesale relationships.
Nike's Shift in Strategy
- Donahoe's consulting background led to prioritizing online sales and older models, neglecting wholesale relationships.
- This short-term success ultimately hurt Nike in the long run as trends changed and competition intensified.
23andMe Board Resignations
- 23andMe's board resigned due to disagreements with CEO Anne Wojcicki's plan to take the company private.
- The board cited a lack of credible proposal and differing strategic visions for the struggling company.