Elliott Hill, the newly named chief executive officer of Nike Inc., acknowledged that things have been rough for the world’s largest sportswear brand in his first message to staff on Thursday.

Nike sales have dropped as consumers have grown tired of its lifestyle sneakers. Read more at straitstimes.com.

Nike's new CEO is expected to double down on the company's efforts to repair relations with retailers to energize sales, reversing a strategy under outgoing chief John Donahoe that focused on selling directly through its stores and website.