Nike has just lost its place on the S&P 100. Now, the sportswear giant is bringing an heir to the world’s biggest luxury empire into its boardroom.
Alexandre Arnault, son of LVMH chairman and CEO Bernard Arnault and deputy CEO of Moët Hennessy, has joined Nike’s board as the company works through a broader turnaround. S&P Dow Jones Indices removed Nike from the S&P 100 effective September 21, 2026, as part of its quarterly index rebalance.
Arnault joined Nike’s board on September 15, just days before the index change. His initial term runs until Nike’s 2027 annual shareholder meeting, taking the company’s board to 12 directors.
The timing puts the appointment against the backdrop of Nike’s ongoing turnaround under CEO Elliott Hill. The company reported fiscal 2026 revenue of $46.4 billion, down 2% on a currency-neutral basis. Nike Direct revenue fell 6% on a reported basis, while Converse revenue declined 31%.
Arnault brings a career centred on luxury, consumer brands and brand repositioning. He currently serves as deputy CEO of Moët Hennessy and has previously held senior roles at Tiffany & Co. and Rimowa, two LVMH-owned businesses.
His appointment also comes at a point when Nike is looking to strengthen consumer connections, sharpen its product and brand strategy and regain momentum across its global business.
From Rimowa to Tiffany
Arnault has been deputy CEO of Moët Hennessy, LVMH’s wines and spirits division, since February 2025. Before that, he spent four years at Tiffany & Co., where he was executive vice-president of product, communications and industrial.
His career at LVMH also includes Rimowa. Arnault spearheaded LVMH’s acquisition of the luggage company before becoming its CEO, a position he held for four years. Nike's announcement credits him with helping evolve the brand’s positioning and business model.
He currently sits on LVMH’s board and is a trustee of the Museum of Modern Art in New York. He has also previously served on the boards of Birkenstock, Carrefour and Moncler.
Nike says Arnault’s experience in innovation, digital transformation and brand building will contribute to its efforts to strengthen consumer connections and its global business.
“Alexandre understands how some of the world's most influential brands stay relevant, deepen consumer connections and drive long-term growth,” Hill said in Nike’s announcement. “His experience across innovation, digital transformation and brand building will be an asset as we continue to strengthen our connection with consumers, sharpen our competitive edge and accelerate NIKE's next chapter of growth around the world.”
Arnault already has a Nike connection
The appointment also builds on an existing relationship between Arnault and Nike.
In 2023, while at Tiffany, Arnault was closely associated with the Nike x Tiffany & Co. Air Force 1 1837 collaboration. The partnership brought Tiffany’s luxury codes into one of Nike’s most recognisable sneaker silhouettes, illustrating the growing overlap between luxury fashion and sportswear.
That intersection has become increasingly important to the wider fashion industry, with collaborations allowing established sportswear and luxury brands to reach audiences beyond their traditional categories.
Arnault’s experience sits directly within that space. His work at Tiffany involved product and communications, while his time at Rimowa focused on repositioning a heritage consumer brand. His new position at Nike, however, is a board role rather than an operational leadership position, meaning his influence will come through governance and strategic oversight rather than day-to-day management.
A different perspective for Nike
Nike’s current challenge extends beyond brand recognition. Its fiscal 2026 results show pressure across several parts of the business, including Nike Direct, digital sales, Converse and markets such as Greater China and EMEA. At the same time, the company has been reshaping its leadership and product strategy under Hill’s “Win Now” turnaround.
The addition of Arnault gives the board experience from a different part of the global consumer industry, one where brand heritage, product desirability, collaborations and cultural relevance play a central role.
It does not, by itself, change Nike’s operating structure or turnaround strategy. But it adds another perspective to a board overseeing one of the most significant periods of change in the company’s recent history.
For Arnault, the appointment marks a move beyond the luxury businesses with which he has been most closely associated. For Nike, it adds an LVMH executive to the board at a time when the company is attempting to reconnect its product pipeline with consumers and return to growth.
Whether that experience translates into meaningful change for Nike will depend on how the board’s broader strategy develops. For now, the appointment is another indication of the kind of expertise Nike is bringing into the room as it works through its next phase.