07:12 AM EDT, 07/09/2024 (MT Newswires) -- Nike ( NKE ) has hired back a former executive to help rebuild relationships with distributors and retailers damaged by the company's strategy of focusing on its own sales outlets, Bloomberg reported Monday, citing internal memos.

Tom Peddie, who retired in 2020, has returned as vice president of marketplace partners, Bloomberg reported.

Nike ( NKE ) did not immediately reply to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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