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Mindy Grossman, the highly-respected executive in charge of Nike's apparel business, resigned yesterday to join IAC/InterActiveCorp., where she will oversee the company's retail businesses, including the Home Shopping Network.
Nike, of Beaverton, Ore., promoted Roger Wyett, 49, president and chief operating officer of its Hurley International surf and skateboard brand, to the post of vice president global apparel, replacing Grossman.
Nike said its apparel business grew 10 percent in 2005 to $3.9 billion, representing slightly more than a quarter of the company's overall sales.
Grossman is credited with invigorating apparel sales at Nike by adding more fashion to existing brands and introducing new yoga and maternity lines.
She is also known for developing strong relationships with retailers.
At IAC, Grossman will oversee Cornerstone Brands, Shoebuy and IAC's international retail business in addition to HSN.
Wyett has more than 25 years of experience in the apparel industry, including stints at Puma and The Walt Disney Company.
Since he joined Nike in 1994, he has held several posts, including that of global product creation.
Analysts questioned whether his most recent job of running Southern Californian-inspired lifestyle brand Hurley, with about $100 million in annual sales, has prepared him to a run business that is almost four times as large.
In New York Stock Exchange trading yesterday, Nike's shares closed at $81.81, down $1.49.
Copyright 2004 NYP Holdings, Inc. All rights reserved.
