Andy Campion, Nike’s managing director of strategic business ventures, plans to leave the company on April 5, according to a Friday 10-Q filing with the U.S. Securities and Exchange Commission.
Campion stepped into his current position in May as part of several executive and leadership changes the company made at that time. As the leader of Nike’s strategic business ventures, Campion focused on identifying and pursuing new business opportunities and oversaw Nike Virtual Studios.
Campion held several leadership roles at the company. He was previously chief operating officer for four years. Before that, he was the company’s chief financial officer for five years. According to his LinkedIn profile, Campion joined Nike in 2007 as vice president of global strategic planning, global business planning and market intelligence.
Upon his departure, Campion will receive $2.75 million from Nike, according to the SEC filing. Nike did not immediately respond to an inquiry from Retail Dive regarding who would take over Campion’s responsibilities.
For the second quarter, Nike reported revenues of $13.4 billion, up 0.5% from a year earlier. Net income rose 18.6% to $1.6 billion. However, the company lowered its outlook and now expects third-quarter revenue to be down slightly, while full-year revenue will rise about 1%.
Nike also said in December it's looking to cut $2 billion in costs over the next three years. The company plans to achieve that goal by simplifying its product assortment, increasing the use of technology, leveraging scale to drive efficiency and streamlining the organization.
The company anticipates a restructuring charge ranging from $400 million to $450 million in the second half of its fiscal year, primarily related to severance costs. The company has not said publicly how many people would be let go.
As he steps away from Nike, Campion will shift his focus from the corporate world to higher education. On his LinkedIn, Campion announced in a post that he co-founded and will direct a newly established UCLA Sports Leadership and Management program.
