The exodus of senior execs walking out the door continues. This time the defection is near the very top of the food chain with HK departing. “Securities filings show that HK has unloaded more than $31 million in company shares since the beginning of 2020.” Meanwhile I made $72,000 last year and got a 2.8% raise. Please Nike, lecture all of us more on “equality”. Try to maintain a straight face while you’re doing it. God I hate this place.
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HK's departure is not surprising. Look at the members of the ELT who are at that sweet spot of retirement age (55) who can vest all their stock with their departure. There will be more departures.
And MM did not force HK out. Whoever said that - you made me chuckle and you clearly don't know HK.
I remember working on the finances when HK came to Nike from Levi and remember being a bit irked due to the relo package she was offered, maybe it was just after layoffs in '08 or something big was going on, it seemed so inappropriate for her to be getting such a lucrative package. Anyway, relo package aside, I remember her being true to her principles and not a pushover.
The Board of Directors who only meet 4 times a year make more than most employees working full time do.
https://boardofdirectorssalary.com/nike/
Nike Board of Directors Compensation and Salary 2020
Cathleen A. Benko – former Vice Chairman
She is the former Vice Chairman. This board member earned total compensation US$295,049, cash paid US$100,000, stock awards US$175,049, and all other compensation US$20,000.
Elizabeth J. Comstock – former Vice Chair of General Electric Company
She is the former Vice Chair of General Electric Company. This board member earned total compensation US$295,049, cash paid US$100,000, stock awards US$175,049, and all other compensation US$20,000.
John G. Connors – partner in Ignition Partners LLC
He is the partner in Ignition Partners LLC. This board member earned total compensation US$300,049, cash paid US$105,000, stock awards US$175,049, and all other compensation US$20,000.
Timothy D. Cook – Lead Independent Director
He is the Lead Independent Director. This board member earned total compensation US$345,049, cash paid US$150,000, stock awards US$175,049, and all other compensation US$20,000.
Thasunda B. Duckett – Chief Executive Officer
She is the Chief Executive Officer. This board member earned total compensation US$229,726, cash paid US$54,670, stock awards US$175,056, and all other compensation US$0.
Alan B. Graf, Jr. – Executive Vice President
He is the Executive Vice President . This board member earned total compensation US$305,049, cash paid US$130,000, stock awards US$175,049, and all other compensation US$0.
Peter B. Henry – Deanship of the Stern School of Business
He is the Deanship of the Stern School of Business. This board member earned total compensation US$283,167, cash paid US$103,118, stock awards US$175,049, and all other compensation US$5,000.
Travis A. Knight – President and Chief Executive Officer
He is the President and Chief Executive Officer. This board member earned total compensation US$275,049, cash paid US$100,000, stock awards US$175,049, and all other compensation US$0.
John C. Lechleiter – President, Chief Executive Officer
He is the President, Chief Executive Officer. This board member earned total compensation US$51,253, cash paid US$31,253, stock awards US$o, and all other compensation US$20,000.
Michelle A. Peluso – Senior Vice President Digital Sales
She is the Senior Vice President Digital Sales. This board member earned total compensation US$314,016, cash paid US$118,967, stock awards US$175,049, and all other compensation US$20,000.
John W. Rogers, Jr. – Chief Investment Officer of Ariel Investments, LLC
He is the Chief Investment Officer of Ariel Investments, LLC. This board member earned total compensation US$295,049, cash paid US$100,000, stock awards US$175,049, and all other compensation US$20,000.
John R. Thompson, Jr. – college basketball coach
He is the college basketball coach. This board member earned total compensation US$279,585, cash paid US$82,000, stock awards US$175,049, and all other compensation US$22,536.
Head of HR MM despises HK. The way this tug of war went is some big bold writing on the wall. Nike is throwing gas on their own dumpster fire, MM will continue to torch the place with her nose held high. Sad for those that helped Nike get on track to greatness. Any company with such disproportionate compensation levels is doomed over the next decade IMHO. We will see.
@1prf+1f0N4fjH your description of the sr dir sums up the majority of leaders here. they come to work last, take 3 hour long lunches, go for a jog in the afternoon, and keep getting rewarded
@1fxt OP here. I’m moving back East on July 1. I know it’s not the nicest thing either but I won’t be giving notice. Come in Friday, tell my manager it’s my last day, and sayonara. I’m in tech and don’t need the goodwill for a reference. I’ll have my pick of new jobs in Florida within days likely paying at least 50% more.
I came to Portland and Nike 4 years ago with high hopes. Even took a substantial pay cut to be here. Now 4 years later both Portland and Nike have taken a nosedive and by the same proportions. My first year here was awesome. Then I got the Sr. Director from he-l. Still don’t understand how on earth he has survived here. Nobody does. The guy is a know-nothing and everyone is aware of it. Yet here he is. Or most of the time isn’t. Dude often disappears for days and nobody has any clue where he’s at. To make the stereotype complete he drives a Porsche with Nike license plate cover, thinks all the ladies love him (they don’t to put it mildly) and dresses like someone you would immediately want to hate just out of principle.
HK was a great leader. Sad to see her go. Much better than anyone in GT.
i gave hk the benefit of the doubt for a long time. she may be an ok person but professionally she has allowed her org to be infested with god awful leaders that festered a toxic work culture. when the kids behave badly look to the parents. i hold her responsible for the rot within her org but we see repeatedly that even the ones at the top don't care, they're there for the smash and grab and then leave so fostering a positive work culture is at the bottom of their priorities
I know HK and to be fair to her she’s one of the good Nike leaders. In my limited experience working with her she has always struck me as smart and genuine. Sad to see someone like her leave. She’s a great example of the type of people you DON’T want to see walk out the door.
That said yeah, those compensation numbers make me angry. Like literally angry. For the love of god does a company REALLY have to pay someone tens of millions of dollars to find competent help?? Would a meager 2 or 3 million just not get you there??
I don’t mean to sound overly dramatic but this is one of the reasons so many Americans these days are so distrustful of authority and institutions in general. You get the sense that the people we put in positions of leadership care a lot more about lining their own pockets than doing right by everyone else. My group is desperately short of people resources and we’re always told “Sorry but there’s no budget for headcount.” We can’t afford to pay someone $60K/year to get the work done but we CAN afford to throw tens of millions of dollars worth of stock to single individuals. Maddening. It also makes me think “Why should I put in more than the smallest token of effort when there are other people in this company making literally 300x my annual salary? Doesn’t that make me a su---r if I do more than the absolute bare minimum to keep my job?” Yes it does.
If you aren’t angry then you aren’t paying attention.
OP, walk away as well since you hate this place as much as you say you do. Can be happier somewhere else? This is not a dig at you, by the way.