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S&P 100 index to remove Nike’s stock as turnaround work continues
OregonLive.com • • business
Key Points:
- Nike will be removed from the S&P 100 index on September 21, reflecting challenges in the company's turnaround plan under CEO Elliott Hill.
- Hill, who took over in October 2024, has been reversing strategies from former CEO John Donahoe, including shifting focus away from retro sneakers and direct-to-consumer sales.
- Despite some progress in North America and running product sales, Nike’s overall performance remains weak, with its stock down 53% since Hill’s tenure began and 79% from its 2021 peak.
- Nike remains part of the S&P 500 and Dow Jones Industrial Average, and Hill is set to address investors at the annual shareholder meeting on Tuesday.
- The company plans an investor day event in November to showcase new products and strategies aimed at regaining investor confidence.
