It would most definitely help our poor stock 💀
6 replies (most recent on top)
Unfortunately, the board won't do anything, because they are captive puppets of PK and his son. Nothing will happen without PK's say so. This is intentionally baked into the corporate ownership structure. NKE isn't really a public company in the common sense; it's more like a private trust that investors can buy powerless shares in.
PK and his son hold 97% of the Class A NKE shares, which are not available on the open market. Those two holders of the Class A shares personally elect nine of the 12 members of Nike's board. Holders of the Class B shares, the ones the rest of us peons can buy on the market, elect the other three members of the board. That board hires the CEO. Even if all the Class B shareholders voted to replace those three board members, it wouldn't make a difference in who the CEO is, the other 75% of the board is going to do whatever PK and his son, who elected them, tell them to do.
In JD's Nike, the market goes up over 1% while NKE drops almost 2%.
JD is the Board.
We either dismissed or deprioritized all potential successors until they eventually left, in order to focus on appearing diverse, equitable, and inclusive to the public.
Phil isn’t God. Every human being makes mistakes. Keeping JD the Mo--n in the corner office will go down as PK’s biggest blunder.
Or drop it further since we don’t have a successor.