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Ch 4 · The People
Chapter 4 · Management
Numbers tell you what happened. People tell you what's next.
So — who's steering Nike, and are they betting on themselves?
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✦ The bottom line
New CEO is a 32-year Nike lifer. His pay heavily rides on results, not salary.
↓ the brief below
The leadership turn
2020
A tech-and-data exec takes over. Doubles down on selling direct and digital.
Oct 2024
Nike brings back Elliott Hill — a 32-year veteran — as CEO. A return to its roots.
✦ Teach me
Pay that only shows up if results show up
Executive pay has two flavors: salary (guaranteed) and performance pay (only if specific results land — sales, profit, stock price). More performance vs. salary = more skin in the game.
Wall Street calls this
Performance-based compensation
Where you check whether "alignment" is just a word or it's actually built into the dollars.
How much of their pay rides on results
73
%
73¢ of every executive-pay dollar only shows up if results hit targets. CEO Hill's mix tilts even further.
Source · proxy · Compensation Discussion & Analysis · FY25 DEF 14A · Filed Jul 17, 2025
From Nike's 2025 proxy · ownership requirement
As of May 31, 2025, the CEO and each of our other executive officers... has met or is on track to meet the applicable ownership guideline within the required time period.
↳ Leaders are required to hold real Nike stock. They sink or rise with you.
Source · proxy · Stock Ownership Guidelines · FY25 DEF 14A · Filed Jul 17, 2025
Strong
Skin in the game. Leaders sink or rise with you.
You just finished
Chapter 4 · MANAGEMENT
The People
you now read: skin in the game
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Then
Chapter 6 · RISK
The China Question