Nike Inc. has appointed Michael Spillane the new CEO of its Converse subsidiary.
He takes the place of Jack Boys who intends to retire.
Spillane, who has 25 years of experience in the apparel and textile business, will come into the new role throughout the remainder of the year. He joined Converse in 2007 as president of North American Footwear. He previously worked as CEO of Polartec and Malden Mills. He also held senior positions at Tommy Hilfiger and Jockey.
Boys was CEO of Converse in 2003 when Nike purchased the company for $305 million.
Washington County-based Nike (NYSE: NKE) is Oregon’s largest public company, with annual revenue of $19.2 billion.
Nike shares were up slightly in afternoon trading at $63.89. They have a 52-week range between $38.24 and $64.95.
Absorbing new and young leaders to the company shows Nike’s desire of becoming larger and stronger. Appointing new members can bring it a lot of benefits. Because new leaders are more energetic and much more interested in new investments. New blood will bring creation and youth to Nike.
