Nike replaced its head of investor relations less than a month before a scheduled investor day, the Beaverton company confirmed.
Kurt Beloff, a vice president at Nike who previously worked at Goldman Sachs, will take over the role from Paul Trussell, who is no longer with the company, The Oregonian/OregonLive reported on Tuesday, Oct. 20.
Nike notified Wall Street analysts of the change the week of Oct. 12.
The Oregonian initially reported Beloff as the permanent successor.
The outlet later updated its story to note that Beloff is serving on an interim basis while Nike recruits a permanent hire.
The swap comes as Chief Financial Officer Dave Denton reshapes his leadership team.
A Nike spokesperson told The Oregonian that Denton is "making several leadership and organizational changes to sharpen accountability, strengthen critical capabilities and position his team for long-term success."
One of those changes: creating a new vice president of investor relations position to strengthen how Nike communicates its strategy to investors, the spokesperson said.
Nike said the staffing move is unrelated to its investor day, scheduled for Nov. 16 and 17 at its Beaverton headquarters.
Analysts are watching that event closely. They expect the company to lay out a clearer plan for growth and profit after the stock fell 47% in 2026.
Shares sit near a 13-year low. Revenue dropped 4% to $11.2 billion in the most recent quarter, and Greater China sales plunged 26%. Nike also announced a restructuring plan called Pace that targets $2.5 billion in savings, though most won't materialize until fiscal 2029 and 2030, according to TIKR.
CEO Elliott Hill, who took over in October 2024, has been working to reverse strategies set by predecessor John Donahoe. Hill's turnaround focuses on sports-specific products, wholesale partnerships and innovation.
"Still, our overall results are not where we need them to be," Hill said at Nike's annual shareholder meeting on Sept. 8, citing weakness in the Jordan brand, Converse and China.
Beloff has held a series of finance roles at Nike, including a previous stint in investor relations. He holds an MBA from Dartmouth and previously worked as a vice president at Goldman Sachs, according to his LinkedIn profile.
Trussell worked across investor relations, treasury, corporate development and strategic finance at Nike. The Oregonian reported that Trussell did not immediately return messages. In an email to investors the week of Oct. 12, Nike described him as a "trusted coach, mentor, and advisor."
The spokesperson told The Oregonian that investor day preparations remain on track. Guggenheim analyst Simeon Siegel suggested Nike's leadership likely wanted to clear out bad news before that event, according to TIKR.
