In a companywide meeting Thursday, Nike (NKE) CEO Mark Parker apologized to employees for allowing a culture in which staff felt excluded and for not taking seriously workplace complaints, according to the Wall Street Journal.
XThe apology comes after a Journal investigation into a "boys' club" culture, inappropriate behavior and other hiring and workplace complaints at the global sportswear leader.
The company has seen a slew of executive departures recently, starting with then-Nike Brand President Trevor Edwards in March. Other exits have included Nike's VP of diversity, VP of footwear, a senior brand director in Nike's basketball division, and a VP of digital-marketing innovation.
On Monday, Nike named 13-year company veteran Amy Montagne as VP and global manager of global categories. Montagne fills the position left open by Edwards' lieutenant Jayme Martin, who was reportedly ousted from the company.
Nike shares rallied 1.8% to 68.10 in the stock market today, finding support at their 50-day line.
It's not clear yet what kind of impact, if any, the recent controversy will have on sales at the athletic apparel and footwear giant or its more recent pursuit of women shoppers. But Nike is not the only company dealing with optics issues at the moment.
Adidas came under fire Thursday for its handling of Kanye West's comments about slavery. West is the creator of Adidas' Yeezy brand, which does not represent a significant portion of the company's revenue but is an important element of its recent resurgence in North America as a hip brand.
"Kanye has been, and is, a very important part of our strategy and has been a fantastic creator, and that's where I'm going to leave it," Adidas CEO Kasper Rorsted told Bloomberg TV on Thursday, adding that he would not comment on West's comments.
Adidas shares fell 2.1% Friday after diving 5% Thursday on signs it's losing momentum in North America. Under Armour (UAA), which has been fading from the foreground amid inventory issues that some analysts call a "ticking time bomb," was flat Friday after sinking 5% Thursday.
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