Retired Nike Exec Returns to Take Helm

The board at Nike Inc. (Beaverton, Ore.) announced that Elliott Hill will become the company’s President and CEO, effective Oct.14. Hill, who retired from the company in 2020, will replace John Donahoe.

“I am excited to welcome Elliott back to Nike,” said Mark Parker, Nike’s Executive Chairman. “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.”

Said Hill: “Nike has always been a core part of who I am, and I’m ready to help lead it to an even brighter future. For 32 years, I’ve had the privilege of working with the best in the industry, helping to shape our company into the magical place it is today. 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.”

In its coverage of Hill’s return, The Oregonian said it was “an announcement that immediately boosted the company’s flagging stock price and elicited cheers from insiders.”

“Donahoe’s tenure was marked by hitting a goal of $50 billion in annual sales, but he also led the company as it bet heavily on selling directly to customers through its own stores and apps, ceding shelf space at third-party retailers to competitors,” the newspaper reported.

“Nike also focused on reliably popular retro styles under Donahoe’s tenure, alienating athletes and sneaker fans looking for something new. Competitors stepped in, grabbing some of Nike’s key running market.”

Nike is a designer, marketer and distributor of athletic footwear, apparel, equipment and accessories for a variety of sports and fitness activities. It also operates the Converse brand.