As the dust continues to settle following a major exec shake-up at Nike last week, new details on brand president Trevor Edwards' departure have surfaced.
According to regulatory filings obtained by Chicago Tribune, the terms of Edwards' noncompete agreement stipulate that he'll receive a $525,000 payout following his formal resignation in August. The sum will reportedly be distributed in monthly payments over the course of the next year. In addition to this, Edwards has also accumulated roughly $9 million in stock awards during his tenure, although it's not confirmed how those funds will be handled.
Yesterday, Wall Street Journal reported that an internal Nike survey among female employees may have led to an outside investigation into inappropriate workplace behavior. Although no direct connection has been made to Edwards, he announced his resignation from the brand last week.