Nike has promoted Andy Caine, a 20-year company veteran, to chief innovation officer, effective April 5. He succeeds Tony Bignell — a 30-year veteran who developed Shox, React, and VaporMax technologies — who departs to pursue creative and philanthropic interests. Caine, known for the Mercurial soccer boot and Air cushioning, will oversee innovation, design, and product development across Nike, Jordan, and Converse, reporting to Chief Innovation, Design and Product Officer Phil McCartney. His promotion comes as Nike navigates significant headwinds: Q3 revenue was flat at $11.28 billion and net profit fell 35% to $520 million, while the stock has dropped approximately 68% over five years.
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