The daily business briefing: March 16, 2018

Nike announces misconduct inquiry as No. 2 executive resigns, former executive says Walmart inflated online sales, and more

The Nike logo at a store in New York
(Image credit: Drew Angerer/Getty Images)

1. Nike's No. 2 executive resigns as company reveals misconduct complaints

Nike's brand president, Trevor Edwards, the company's No. 2 executive and once considered a potential successor to CEO Mark Parker, has resigned and will leave immediately, The Wall Street Journal reported Thursday. Parker said Edwards would continue to serve as an adviser until officially retiring in August. The news came on the same day that Parker announced in an internal memo that Nike was acting on reports of "behavior occurring within our organization that do not reflect our core values of inclusivity, respect, and empowerment." He praised the "strong and courageous employees" who came forward with the allegations, and did not specify whether the complaints involved Edwards or other executives.

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