The announcement follows senior leadership changes made last week. Nike intends to streamline its organization to transform the company faster.
The apparel retailer was founded in 1818 and has dressed presidents from Abraham Lincoln to Barack Obama. It is know owned by Italian businessmen Claudio del Vecchio.
The Hong Kong-listed apparel retailer filed for Protective Shield Proceedings for six German subsidiaries last March.
All economic news of the key fashion companies worldwide.