Former LEGO CEO Knudstorp nominated to Nike’s board of directors

BEAVERTON, Ore. - Nike, Inc. (NYSE:NKE), the $90.7 billion market cap athletic wear giant, has nominated Jørgen Vig Knudstorp to its Board of Directors, the company announced in a press release on Tuesday. Shareholders will vote on the nomination at Nike’s annual meeting scheduled for September 9, 2025.

Knudstorp served as President and Chief Executive Officer of the LEGO Group from 2004 to 2016 and as Executive Chair of LEGO Brand Group from 2017 to 2023. He currently holds the position of Deputy Chair of the LEGO Foundation. According to InvestingPro, Nike maintains strong financial metrics with a current ratio of 2.19, indicating robust liquidity management.

Mark Parker, Executive Chairman of Nike, cited Knudstorp’s "strong global experience with brand and digital marketing, strategy, and consumer products" as valuable assets for the company.

Before his tenure at LEGO, Knudstorp worked as a management consultant at McKinsey & Company. He holds a master’s degree and PhD in economics and business management from Aarhus University.

Knudstorp currently serves as the lead independent director of Starbucks Corporation and as Partner and Executive Advisor of Innovation Endeavors.

Nike, headquartered in Beaverton, Oregon, describes itself as a designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. The company has demonstrated strong shareholder commitment, having raised its dividend for 23 consecutive years, with annual revenue reaching $47.8 billion. Based on InvestingPro’s Fair Value analysis, the stock currently appears slightly undervalued.

In other recent news, Nike is preparing to release its fourth-quarter fiscal 2025 earnings, with several analysts weighing in on the company’s outlook. Stifel expects Nike’s revenue to align with Street estimates of $10.7 billion, marking a 15% decline year-over-year, and earnings per share of $0.12. Raymond James maintained a Market Perform rating, noting improvements in inventory management but expressing concerns over tariff impacts on gross margins. Needham adjusted its earnings estimates, raising the fourth-quarter EPS forecast to $2.18 while lowering fiscal 2026 and 2027 projections, citing challenging trends. Piper Sandler maintained an Overweight rating, highlighting increased investor short interest and projecting $500 million in sales from new distribution efforts. Meanwhile, Cathleen Benko, a long-serving board member, will retire at the 2025 annual meeting, with Nike emphasizing her continued good standing. Despite these developments, analysts remain cautious, with Stifel and Needham expressing concerns about Nike’s path to sustainable growth amid ongoing market challenges.

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