BEAVERTON, Ore. (AFX) - Nike Inc. said Monday it has reorganized management and created new senior positions to head five core product categories: running, football, basketball, men's training and women's fitness.
The world's No. 1 shoemaker said the new approach is designed to help the company expand market share and drive profitability.
'We're aligning with our biggest growth opportunities, both geographically in markets such as China, and in core product categories and consumer segments such as basketball and football (soccer),' said Nike Brand President Charlie Denson, in a statement.
The company also promoted Gary DeStefano, who most recently headed up U.S. operations, to president of global operations as part of the new structure. The company named footwear Vice President Craig Cheek to succeed DeStefano.
The five newly created positions bear the title of vice president. Nike said it expects to fill the positions shortly.
Shares of Nike fell 75 cents to finish at $77.92 on the New York Stock Exchange.
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