Nike is replacing the chief executive of its Converse subsidiary as it seeks to reverse a prolonged sales slump for the sneaker brand. Aaron Cain, a vice president and general manager of Nike’s global men’s business based in Beaverton, Oregon, will assume the CEO role at Converse in Boston, according to an internal memo. Nike is a global sportswear company that designs, develops, and sells athletic footwear, apparel, and accessories. Converse, a subsidiary of Nike, is best known for its iconic Chuck Taylor All Star sneakers.
Cain, a 21-year Nike veteran, brings experience from various roles within the company’s sportswear divisions across North America, Europe, and Asia. He succeeds Jared Carver, who is departing Converse after serving as CEO for two years. The transition comes as Converse grapples with declining sales figures.
According to the memo, this change marks “the right time for the next chapter of the brand’s evolution.” Nike has officially confirmed the leadership transition. Cain and Carver will collaborate throughout the remainder of the month to ensure a smooth handover of responsibilities.
Converse has faced difficulties in boosting sales in recent years, experiencing revenue declines in the past eight consecutive quarters. In the most recent quarter, sales plummeted by 26 per cent, prompting management to actively search for strategies to restore growth.
