Nike names new CEO at Converse amid ongoing sales decline

Nike is reshuffling leadership at Converse in a strategic effort to revive the brand, which has faced a steady sales decline over the past two years.

Aaron Cain, Nike’s vice president and general manager of men’s, will take the helm at Converse as its new CEO. Based at Nike’s Beaverton, Oregon, headquarters, Cain brings over two decades of experience to the Boston-based brand. The leadership transition was announced in an internal memo obtained by Bloomberg News.

Cain, a 21-year Nike veteran, has held leadership roles in the company’s apparel business across North America, Europe and Asia. He will replace Jared Carver, who is stepping down after two years as CEO of Converse.

“Now is the right time to begin the next chapter in Converse’s evolution,” the memo stated.

Nike has confirmed the leadership transition, noting that Cain and Carver will work together through the end of the month to ensure a smooth handover.

Carver has not yet responded to requests for comment.

Converse has struggled to regain momentum in recent years, posting revenue declines for eight consecutive quarters. In the most recent quarter, sales dropped 26%, leaving leadership under pressure to find a path back to growth.

Nike’s CEO, Elliott Hill, is betting on Converse to help lift the company’s broader portfolio. Hill, who came out of retirement last year to lead Nike, has been working to correct strategic missteps by rebuilding relationships with retailers and refocusing the company on its core strength: sport.

In his internal memo, Hill said the Converse leadership change is part of a broader push to “bring greater distinction and scale to each of our brands in sport.”

Once a reliable revenue driver, Converse has become a smaller part of Nike’s overall business. Last year, the brand accounted for less than 4% of the company’s total sales—a drop from the 5–7% range it typically maintained since Nike began reporting Converse revenues separately in 2012.