Nike Appoints Adam Sussman As Chief Digital Officer, Notes Digital Offers A 'Fundamental Transformation' Of Business

Shares of Nike Inc NKE were trading higher by more than 3 percent on Wednesday after the company appointed Adam Sussman as its first ever Chief Digital Officer. Sussman held multiple positions in the interactive gaming and entertainment industries and will spear-head Nike's development of digital products and services across Nike.com, Nike+ and Brand Digital platforms. The executive has also been tasked with driving Nike's consumer engagement and accelerating the collective power of all Nike's digital products and services for consumers. Nike noted in its press release that its initiatives in digital will offer a "fundamental transformation" of its business and create an industry-leading ecosystem. The company also added that it remains on track to meet its goal of reaching $50 billion in revenue by the end of fiscal 2020, partly due to new initiatives in digital. "Nike views digital as a vital accelerator, not just in connecting athletes with knowledge and services, but in everything it does," the company stated. "From amplifying how it gives consumers access to the Nike Brand in new and innovative ways to manufacturing and delivering the products and experiences athletes need to achieve their potential, Nike continues to drive the future of sport."