Nike, Inc. has announced the appointment of Elliott Hill as the new President and Chief Executive Officer, effective October 14, 2024, succeeding John Donahoe. Hill, a long-time Nike veteran, will also join the board of directors and the executive committee. Hill had previously retired from Nike in 2020, after serving in various senior leadership positions across Europe and North America.
During his previous tenure at Nike, Hill was responsible for helping grow the business to more than $39 billion and had led all commercial and marketing operations for Nike and Jordan Brand, including the profit and loss across the company’s four geographies.
John Donahoe will retire from his role as President and CEO, as well as from the Nike, Inc. board of directors, effective October 13, 2024. He will remain as an advisor to the company to ensure a smooth transition through January 31, 2025.
Hill expressed his excitement about returning to Nike, stating, "Nike has always been a core part of who I am, and I’m ready to help lead it to an even brighter future."
Mark Parker, Executive Chairman of Nike, Inc., thanked Donahoe for his contributions and recognized his role in leading the company during the COVID-19 pandemic.
The press release did not include specific financial metrics or comparisons between the performance under Donahoe and the expected performance under Hill. Following these announcements, the company's shares moved 0.1%, and are now trading at a price of $80.98. For more information, read the company's full 8-K submission here.
