Nike VP resigns after news of resale of his son’s limited-edition Adidas sneakers becomes public knowledge

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Nike Vice President and General Manager Ann Hebert has announced her resignation from Nike, where she has worked for more than 25 years. The announcement came six days after Bloomberg Businessweek reported that his son, Joe Hebert, ran a sneaker resale business, West Coast Streetwear, which recently made $20,000 from the sale of coveted 19-year-old Adidas Yeezy sneakers. .

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The Yeezy Boost 350 Zyon sneakers, developed in partnership with Kanye West, retail for $220, details Bloomberg. Each Yeezy style is released in a limited quantity of 40,000 and often sells out above retail. Bloomberg reporter Joshua Hunt revealed in an investigative report that Joe Hebert used bots to exceed the transaction limit on a Yeezy sourcing website, then bought $132,000 in sneakers, allegedly using an American Express card bearing his mother’s name.

Nike has confirmed to Fox Business that “Ann Hebert, Vice President/General Manager of North America Geography has decided to retire from Nike, [effective] immediately.” The sneaker maker said it plans to announce a new vice president for North America soon, but did not share a timeline, according to Fox Business.

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A Nike spokesperson told Bloomberg that there is no affiliation between Nike and Joe Hebert’s company. Similarly, young Hébert told Hunt that he never received inside information, such as discount codes, from his mother. After this series of questions, writes Hunt, Hebert insisted that his mother not be mentioned in the article and then cut off contact with the reporter.

A Nike spokesperson told Hunt, “There were no violations of company policy, inside information, or conflicts of interest, and there is no commercial affiliation between WCS LLC and Nike, including the direct purchase or sale of Nike products.”

Nike stock fell from Monday’s high of $139 to $137 at the market close on Tuesday after news of the vice president’s resignation was announced.

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About the Author

Dawn Allcot is a full-time freelance writer and content marketer with interests in finance, e-commerce, technology, and real estate. His long list of publishing credits includes Bankrate, Lending Tree and Chase Bank. She is the founder and owner of GeekTravelGuide.net, a travel, technology and entertainment website. She lives in Long Island, New York, with a veritable menagerie that includes 2 cats, a rambunctious kitten and three lizards of different sizes and personalities – plus her two children and her husband. Find her on Twitter, @DawnAllcot.

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