00:00I am curious about this. You know, when we got this announcement last week, the first thing
00:03everybody looked at Dave Denton's background and said he's a Pfizer executive. So what does a
00:07pharmaceutical finance chief know about running a retail and apparel brand like Nike? Probably not
00:15very much, at least from the start. Does it matter? That was that was my reaction. I think
00:19interestingly enough, with companies as big as Nike and Pfizer, what I'm hearing increasingly
00:25is that it doesn't really matter if you know the industry really well. What matters is that you
00:29know a business of scale that has a certain market cap and that has a long and winding
00:34supply chain around the globe, which, of course, Dave Denton has. Interestingly enough, still
00:38analysts pointed out that he doesn't have industry experience and that therefore he will have a
00:43longer ramp up time as he gets his arms around the new role, of course, at an interesting time
00:48for Nike, as you pointed out. Let's talk about the timing a little bit, because, you know, you think
00:52about Elliott Hill. He's new ish. He's been CEO since October 2024. So at this point, we're approaching
00:59you know, his two year milestone with the company. So what do you make of the timing of this specific
01:05executive change to the seat? I almost said ETF to the CFO role? Yeah, it's an interesting one,
01:12because oftentimes when we see CEO changes, we oftentimes then have a CFO change six, eight,
01:18nine, 12 months later. So in this case, it's interesting to see that Elliott Hill waited up until
01:23now. Of course, the stock slump that we've seen is probably one of the reasons for why he's now
01:29bringing somebody in who can potentially help with bringing back trust on Wall Street. And of
01:35course, we have also seen changes that the company like Hill did elevate other people internally last
01:40year. So there has been change, but not at this this key position, the chief financial officer up
01:45until now.
Comments