Nike CEO blames remote work for innovation slowdown [Video]

Nike CEO John Donahoe on Friday blamed remote work for the company falling behind on innovation, saying that it’s tough to be disruptive when people are working from home. 

In an interview with CNBC’s Sara Eisen from Paris, Donahoe was asked about the company’s lack of fresh new products in its assortment, which had been a concern among investors. 

“What’s been missing is the kind of bold, disruptive innovation that Nike’s known for and when we look back, the reasons are fairly straightforward,” said Donahoe.

He pointed out that footwear factories in Vietnam were forced to shutter during the Covid-19 pandemic but said “even more importantly,” Nike’s employees worked from home for 2.5 years.

“In hindsight, it turns out, it’s really hard to do bold, disruptive innovation, to develop a boldly disruptive shoe on Zoom,” Donahoe said. “Our teams came back together 18 months ago in person, and we recognize this. So we realigned our company, and over …