Umbro CEO resigns as Nike deal completes

UK: Umbro CEO resigns as Nike deal completes

Author: just-style.com | 4 March 2008

The CEO at football kit maker Umbro is to be replaced by an executive from Nike, the sporting goods giant that is currently completing its acquisition of the UK firm.

Steve Makin said he thought now was "the right time" to resign his post at Umbro, which is being taken over by Nike after the companies agreed a GBP285m (US$566m) deal last October.

He joined Umbro in July 2006 as CFO, taking on the CEO's role a year later.

"I have thoroughly enjoyed my time with Umbro, but now is the right time for me to move onto another challenge," said Makin.

"Umbro is a hugely exciting global brand, and the business is in great shape for continued growth and development."

Makin is being replaced by Matthew Cook, most recently general manager of Nike Italy, a position he has held since 2000.

Cook is credited with making Italy a leading market for Nike and for securing sponsorship deals with the Inter Milan and Juventus football teams.

Umbro chairman Nigel Doughty praised Makin, saying he had been instrumental in devising the business' successful strategy and in securing "an excellent deal" for shareholders with Nike.

Lee Bird, president of Nike's subsidiary brands, wished Makin well for the future, adding: "There is real passion and commitment to driving the brand forward among the whole team at Umbro, and Matthew Cook will provide the leadership to grow the business over the coming years, as well as integrating where required with the Nike brand."

Sectors: Apparel

Companies: Umbro, Nike