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The Nike Cautionary Tale: What Happens When Leadership Loses Touch With Its Customers

The Tom Dupree Show

Welcome to a special edition of the Financial Hour brought to you by the Pre Financial Group where we make your money work for you. This episode we're going to be talking about Nike and Nike is a really interesting story. There's a lot of backstory to it and it really illustrates the principles that we talk about constantly on this show. The compounding cost of bad strategy, the danger of chasing a concept over a proven model,

and what happens when leadership loses touch with what made a company great. So joining us, our analyst Michael Dahl here and our host Tom Dupree. This is Charlie Crockett.

Nike started by Phil Knight who was a track guy at Oregon which had the best track team in the country for years. He started with a coach. They were making this, I'm reading here, they made their waffle pattern soles in a waffle iron. And I remember at one time they were called waffle stompers.

But the board turned over the leadership of the company to a guy who would be kind of considered an outsider. And this... That was in 2020, wasn't it? Yeah. This episode is to be a cautionary tale for how you screw up a company and how not to. So, Michael, I'm going to let you go with it. Well, that's a good introduction.

And then I think Phil Knight's first biography, he gave the famous instruction to his partner who was getting on a plane, leaving the United States for the first time and he was going to either China or somewhere in the southeast to try and make the shoes overseas so they didn't have to use a waffle iron anymore. Yeah.

The Nike Cautionary Tale: What Happens When Leadership Loses Touch With Its Customers

Read the full transcript

The candid version is on a podcast,
not the earnings call.

The Nike Cautionary Tale: What Happens When Leadership Loses Touch With Its Customers

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.