Nike appoints two new board members

Nike has announced the appointment of Mónica Gil and Bob Swan to its Board of Directors.

Gil is currently EVP, Chief Administrative and Marketing Officer at NBCUniversal Telemundo Enterprises. Prior to this, she served in several leadership roles at Nielsen.

In her role at NBCUniversal Telemundo Enterprises, Gil supports emerging technologies and shifting consumer behaviour, leading the company’s brand development, digital marketing, and multichannel creative efforts.

Swan is an Operating Partner at Andreessen Horowitz, where he advises growth-stage portfolio companies as they scale their businesses. Prior to this, he worked as CEO of Intel, Operating Partner at General Atlantic and CFO of eBay.

Mark Parker, Executive Chairman at Nike, said: “Mónica and Bob’s collective leadership in business operations, innovation, marketing, branding and media make them outstanding additions to our board. We’re excited to bring on their expertise and perspectives as we continue to accelerate our strategy to create value through a relentless drive to serve the future of sport.”

In June, Nike reported its financial results for the fourth quarter and full year ending 31 May 2022, revealing a 1% decrease in fourth quarter revenues to £9.9 billion ($12.2 billion). For the full year, revenues at Nike increased 5% to £41.2 billion ($46.7 billion).

Nike expects FY23 revenues to grow by "low single digits" when compared to 2022 levels, due to the headwinds of a stronger US dollar, with profit margins falling as much as 50 basis points.