Nike appoints Alexandre Arnault to board amid deep corporate crisis

Nike has announced that Alexandre Arnault will take a seat on its board of directors. The appointment places the thirty-four-year-old executive into the leadership structure of the American sportswear company during a period of significant operational difficulty. Brazil Journal reported the story, highlighting the strategic nature of this personnel change.

The company is currently navigating an unprecedented crisis, characterized by declining sales in both digital and physical channels. Nike is losing market share to competitors such as New Balance and has struggled to rebuild its relationships with retailers, consumers, and athletes. The stock price has fallen by fifty percent over the past year and is down eighty percent from its peak in 2021. The company’s current market capitalization stands at fifty-three billion US dollars.

Arnault is the son of Bernard Arnault, the controlling shareholder of LVMH. He currently serves as the number two executive at Moët Hennessy, a position he has held since February 2025. Prior to this role, he worked for four years as the vice president of product at Tiffany & Co., where he collaborated with Nike. His earlier career includes leading the 2016 acquisition of Rimowa by LVMH and serving as the chief executive officer of that luggage brand until 2020. During his tenure at Rimowa, he implemented collaborations with popular brands such as Supreme and Off-White to appeal to younger audiences. He is a graduate of the Télécom Paris polytechnic institute.

Executives at the sportswear producer stated that Arnault has demonstrated the ability to guide iconic brands toward long-term innovation and growth. His appointment is part of a broader effort to renew the board and reformulate the company’s operations. Arnault has previously served on the boards of Carrefour, Birkenstock, and Moncler, in addition to his current role at LVMH.

According to Le Monde, Arnault had previously sought to assume leadership of Dior, but his older sister Delphine secured that position. The primary succession dispute within the family concerns the chairmanship held by Bernard. In a statement on LinkedIn, Arnault expressed his admiration for Nike, citing its representation of sport, performance, innovation, and creativity. He noted that the brand has accompanied him through numerous kilometers of running and personal achievements, making the opportunity to contribute to its next chapter particularly significant.

David Swartz, an analyst at Morningstar, told Fortune that Nike would only make such a move if there were a tangible benefit. He suggested that gaining experience on the Nike board could assist Arnault in his future role at LVMH. The contribution is expected to be concrete, potentially involving brand collaborations similar to those Arnault managed at his father’s companies. On the same day as the announcement, Kylian Mbappé, one of the world’s best footballers, left Nike to help create a football division for the Swiss company On, adding to the company’s recent setbacks.