Can someone explain to me what it is that a board of directors does for a company generally, in addition to for Nike specifically, and whether they have any accountability over the misdirection of the company over the last 5-10 years?
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These links shed light on who the board of directors are and who has the power to vote them in, but doesn’t explain WHAT they do.
And Jesus Christ, JD has over $100,000,000 in stock even after tanking the share price… I’m sure he earned that…
https://www.investopedia.com/articles/insights/052516/top-4-nike-shareholders-nke.asp
https://investors.nike.com/investors/corporate-governance/
Do you have more examples of what each board member does? So, it sounds like they don’t really have any true accountability, is this true?
At Nike, the board only does exactly what PK tells it to do. They're puppets selected by PK. NKE's board is completely controlled by PK and his son TK, on purpose. PK set up the dual-class stock structure intentionally to prevent class B shareholders and the board from having any say in who runs the company. (Same structure as Fox BTW.) Nothing happens without PK's say so. Everyone whining about how bad JD was needs to realize he was only there because PK put him there. This latest gambit with EH is just another pump and dump scheme to boost the stock price. It will work for a little while, then it's a long way down.
NKE YTD: -18.80%
S&P 500 YTD: +20.24%
DECK YTD: +34.18%
ADYY YTD: +22.49%
NKE will be at ~$50 by next year.
They narrowly focus on their niche area of expertise without understanding overall Nike business fundamentals or caring much about operational performance. They are then presented sanitised versions of reality in endless PowerPoint documents that have been scrubbed meticulously by Comm. This is all fine as long as business is growing and top leaders can be trusted. But it has been a huge failure these last few years. A great example is the CRS&G commitee. Completely useless.