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Nike and Umbro Announce Management Changes

Nike and Umbro today 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."

Lee Bird, President of Nike's subsidiary brands, commented: "We understand Steve's decision and would like to wish him the very best for the future. 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."

Cook joined Nike from Price Waterhouse in January 1993 as Finance Director of Nike Italy. In 1995, he moved to Nike's world headquarters as Global Financial Planning Director. He returned to Nike Italy in 1997as Footwear Business Director and became General Manager in 2000. Cook was instrumental in making Italy a leading market for Nike and also in securing sponsorship agreements with both Inter Milan and Juventus football clubs.

 

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