An internal memo obtained by Reuters claims the change in management at Converse comes as Nike continues to restructure its operations.
Nike is said to be focusing on different sports categories across its various brands, including Nike, Jordan, and Converse.
The brand has been grappling with slower sales growth and increasing competition within the global market recently.
In its fourth-quarter revenues of fiscal 2025, Converse recorded a 26% decrease in sales, amounting to $357m on both reported and currency-neutral bases. The brand also saw a 19% drop in annual revenue to $1.7bn, with an 18% decline on a currency-neutral basis.
Revenues at Nike fell 10% to $46.31bn in FY25.
These challenges have led to cost-cutting initiatives and a strategic shift towards performance-oriented sports products.
Carver's tenure at Converse spanned 15 years and included key leadership positions in North America and Europe, the Middle East and Africa (EMEA).
Cain, who has been with Nike for over two decades and currently serves as vice president and general manager of Nike Global Men's, is set to assume his new responsibilities after a transition period concluding at the end of July.
Cain's appointment follows a broader series of executive reshuffles at Nike.
In May this year, the company promoted Amy Montagne, Global Women’s VP/GM to president at Nike.
Phil McCartney, formerly VP of Footwear advanced to EVP, chief innovation, design and product officer.
Chief marketing officer Nicole Graham was also promoted to EVP, chief marketing officer to lead Nike, Jordan and Converse.
Tom Clarke, the strategic advisor to the CEO, transitioned into the role of chief growth initiatives officer.
In May, Nike president and CEO Elliott Hill said: “I’m confident that with this new structure and leadership team in place we will be able to better line up and leverage all the advantages that make Nike great. These exceptional leaders bring extensive Nike experience and have been instrumental in resetting our priorities to lead with sport and put the athlete at the centre of everything we do.”
“Nike lines up new Converse CEO amid lacklustre performance ” was originally created and published by Just Style, a GlobalData owned brand.
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