Nike adds LVMH executive Alexandre Arnault to board as turnaround continues
Nike announced on Wednesday that Alexandre Arnault, deputy CEO of LVMH’s Moët Hennessy division, will join its board of directors. Arnault has led the wine and spirits unit since February 2025 and previously oversaw the acquisition of Rimowa, which he ran for four years.
He also worked at Tiffany & Co. and McKinsey & Company before his current role. Nike said the appointment aims to bring innovation and brand‑building expertise to its turnaround effort. The move follows a week after news that Nike would be dropped from the S&P 100 index. Recently Nike has reset its online distribution in China, launched a Studio Fleece line, named a new CFO and a commercial chief, and cut its store count by 4% as it closes small‑format Nike Live stores.
“Alexandre has earned a reputation for helping iconic global brands evolve, innovate and grow in a changing, complex marketplace,” Nike Executive Chairman Mark Parker said.
“Alexandre understands how some of the world's most influential brands stay relevant, deepen consumer connections and drive long-term growth, His experience across innovation, digital transformation and brand building will be an asset as we continue to strengthen our connection with consumers, sharpen our competitive edge and accelerate Nike's next chapter of growth around the world,” Nike CEO Elliott Hill said.
Nike’s turnaround has been dragging as lifestyle demand slows and competition heats up. The company recently reset its online distribution in China, launched a Studio Fleece line, named a new CFO and a commercial chief, and reduced its store count by 4% while closing small‑format Nike Live stores. Analysts note a worsening top line, a four‑year decline in product purchase obligations, and double‑digit drops in Converse and China.
What we know
Nike announced on Wednesday that Alexandre Arnault will join its board of directors.
Arnault has held his current role since February 2025.
He previously oversaw LVMH’s acquisition of luggage brand Rimowa and ran that business for four years.
Nike’s overall store count declined 4% last year.
The announcement comes about a week after news broke that Nike would lose its place on the S&P 100.