Tim Cook Aids Nike Amid Sales Decline

Apple CEO Tim Cook, who has served on Nike's board for nearly 20 years, is currently navigating the sportswear giant through significant financial challenges. Nike recently reported a 10% drop in sales and announced layoffs due to declining demand for its products amid increasing competition from smaller brands. Cook has played a crucial role in this period, including endorsing Elliott Hill as the new CEO to spearhead a turnaround strategy after the resignation of John Donahoe. His longstanding relationship with Nike has included advising on various operational matters and securing key executive appointments. As Cook continues to wear custom Nike sneakers designed on an iPad, he remains a vital figure for both Apple and Nike during this tumultuous time. The company has postponed its investor day as it prepares for a new strategic direction under Hill's leadership.