March 4, 2008
NIKE Inc and Umbro announced that Steve Makin, Chief Executive Officer and Board member of Umbro Plc, has decided to leave the company. Effective immediately, Makin will be succeeded as President and CEO by Matthew Cook, who most recently was General Manager of Nike Italy.
Makin joined Umbro in July 2006 as Chief Financial Officer, a position he held until June 2007 when he became Chief Executive. Prior to Umbro, Makin served at Asda and Wal-Mart from 1991 holding a number of financial and non-financial roles, including a two-year posting to Germany as Wal-Mart's Commercial Finance Director. With the completion of Nike's acquisition of Umbro effective today, Makin decided the time was right to make a transition.
"I have thoroughly enjoyed my time with Umbro but now is the right time for me to move onto another challenge," Makin said. "Umbro is a hugely exciting global brand and the business is in great shape for continued growth and development. I would like to thank everyone that I have worked with during my time at Umbro for their support, hard work and commitment. I wish Nike, the management team and everyone involved with Umbro continued success in the future."
Nigel Doughty, Chairman of Umbro, said: "The Board would like to thank Steve for the significant contribution he has made to Umbro. Steve has been instrumental in devising the successful strategy for the business since he joined and securing an excellent deal for Umbro shareholders in the sale of the business to Nike. I, and the rest of my Board, know that he will add significant value to any company he is a part of and would like to wish him all the very best for the future."
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