Companies

Nike veteran Elliot Hill succeeds John Donahoe at the company’s helm

Sep 23, 2024 United States

Amid a broader restructuring, the US sportswear giant has announced that CEO John Donahoe is stepping down from his position and will be succeeded by former senior executive Elliot Hill

This appointment marks the return of Elliot Hill to Nike, where he has held senior leadership positions in Europe and North America during a 32-year career, before his retirement in 2020. He will now become Nike’s president and chief executive officer on the 14^th of October, and will serve on the company’s Board of Directors and as a member of the Executive Committee.

“I am excited to welcome Elliott back to Nike. Given our needs for the future, the past performance of the business, and after conducting a thoughtful succession process, the Board concluded it was clear Elliott’s global expertise, leadership style, and deep understanding of our industry and partners, paired with his passion for sport, our brands, products, consumers, athletes, and employees, make him the right person to lead Nike’s next stage of growth”, commented Mark Parker, Executive Chairman of Nike.

Elliot will succeed John Donahoe, who will step down on the 13^th of October. However, he will remain with the company as an advisor until the 31st of January 2025 to ensure a smooth transition. Parker thanked him for his contributions to Nike, particularly his role in leading the company during the COVID-19 pandemic.

After shifting its strategy to sell directly to consumers, Nike admitted that it had gone too far in its efforts to move away from its wholesale partners and embarked on a broader restructuring. Nonetheless, the company has struggled to boost sales. After reporting a 1% year-on-year increase on a currency-neutral basis of 51.2 billion US dollars in the fiscal year that ended in the last day of May, it warned that it expects sales to fall by 10% in the current quarter.

Donahoe stated that “it became clear now was the time to make a leadership change, and Elliott is the right person. I look forward to seeing Nike and Elliott’s future successes.”

“I’m eager to reconnect with the many employees and trusted partners I’ve worked with over the years, and just as excited to build new, impactful relationships that will move us ahead. Together with our talented teams, I look forward to delivering bold, innovative products, that set us apart in the marketplace and captivate consumers for years to come”, said Elliot Hill.

Image Credits: about.nike.com

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