During the release of the new iPad product line by apple, Tim Cook not only showcased apple's innovation but also cleverly highlighted his deep relationship with Nike. As the longest-serving member of Nike's board of directors, Cook provided advice on leadership changes and strategic planning when Nike faced challenges from emerging brand competition and declining sales. His involvement extended beyond product launches to deeply influencing the company's operations, from China's supply chain management to technology operations, and to the appointment of key executives. Cook's guidance helped Nike maintain its direction during turbulent times, reflecting the long and successful cooperation between the two companies.

During the release of the new iPad at Apple's California headquarters, Tim Cook was wearing Nike sneakers specially designed for him. This not only showcased his personal taste but also embodied his deep relationship with Nike. As the CEO of Apple and an important member of Nike's board of directors, Cook provided valuable leadership and strategic planning advice when Nike faced challenges such as emerging brand competition and declining sales.

However, two months before the iPad launch, Nike had warned of declining demand and began layoffs in the first half of this year. Cook played a key role in the leadership changes, recommending former eBay boss John Donahoe as Nike's CEO, despite Donahoe retiring after just four years. Subsequently, Cook helped hire retired Nike veteran Elliott Hill as the new CEO.

As the Chief Independent Director of Nike for the past 19 years, Cook has been a close external advisor to the company. According to current and former Nike and Apple employees, Cook has provided insights on issues such as the Chinese supply chain, technology operations, and key new executive appointments during his tenure.

When Cook joined Nike's board of directors in 2005, he was still Apple's Chief Operating Officer and a trusted assistant to Steve Jobs. At that time, the two companies were about to enter into their first collaboration, installing pedometer sensors in Nike sneakers to send fitness data to the iPod. Nike warmly welcomed Cook's addition to the board, praising his technical expertise as a valuable asset.

In terms of operations, employees at Nike's global headquarters in Oregon state mentioned that Cook occasionally provides design suggestions for retail stores and encourages Nike to focus on core products rather than market saturation. In addition, during the upgrade of Nike's digital ecosystem in China, including online stores, apps, and WeChat mini programs, senior executives in the company's technology department often borrow Cook's strategies for legal compliance in the China region.

As Cook's career progressed, his relationship with Nike became increasingly close. Nike and Apple are now close partners for the Apple Watch. Since 2016, these two companies have been selling co-branded watches with unique bands and faces. Nike also offers its own fitness features that Apple Watch users can install on their devices.

During most of Cook's tenure as a director at Nike, the company has been a consistently growing company with little turnover in leadership. However, everything changed in 2019, when disappointing financial performance and a series of sexual harassment allegations against Parker's subordinates overturned the tenure of the then CEO. In order to modernize the operation of e-commerce, Nike appointed Donahoe as the new CEO.

Nike is currently in the midst of the biggest turmoil in decades, with the challenges faced by Nike directors like Cook being more severe than ever. Previously, Nike's fourth-quarter fiscal year 2024 revenue announced at the end of June this year fell short of expectations, and the guidance for fiscal year 2025 was lowered, triggering a strong market reaction. After the financial report was released, the stock price plummeted nearly 20% in just one day on June 28th.

Nike announced earlier this month that its revenue for the first quarter of the 2025 fiscal year decreased by 10.4% year-on-year, with profits falling by 28%. As the new and old CEOs transition, Nike has retracted its full-year performance guidance and postponed the investor day originally scheduled for November, allowing the new CEO more time to develop a strategy to turn losses into profits. This strategy will need to be approved by board members like Cook.

Editor/Lambor