Nike Announces Leadership Transition: John Donahoe to Step Down, Elliott Hill to Assume CEO Role

Nike has announced a significant change in its leadership. John Donahoe will retire next month, marking an end to his tenure as Chief Executive, which began in January 2020. The move that has sparked a positive reaction from the market, Nike’s shares surged nearly 10% following the announcement of Elliott Hill as the new CEO, effective October 14. Hill, a seasoned veteran at Nike, previously held the position of President of Consumer Marketplace until 2020. Hill’s return is anticipated to revitalize Nike’s strategic direction and growth. Donahoe will remain as an advisor through January 2025 to aid in the transition.

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