The Investment committee debate how to trade Nike after the CEO's departure.
Nike's (NKE) hard-hit shares rallied Friday, topping the Dow's advancers, as Wall Street analysts largely welcomed the company's appointment of veteran executive Elliott Hill as its new Chief Executive Officer (CEO).
Nike's leadership shake-up has been met with enthusiasm from the markets, as the sportswear giant announced the return of veteran Elliott Hill to its top job. On Thursday, the company's board of directors confirmed Hill's appointment as Chief Executive Officer, effective October 14.
Shares of NIKE, Inc. NKE are rallying after the company appointed Elliott Hill as its new CEO, aiming to rejuvenate sales by mending ties with retailers.
For the week, Nike stock is up more than 8% following the Oregon-based company's announcement on Thursday that John Donahoe was stepping down as CEO.
Nike is bringing back company veteran Elliott Hill to turn the business around. The stock has lagged as competitors have taken market share.
Nike Inc (NYSE:NKE) stock is up 5.5% at $85.42 at last glance, after news that CEO John Donahoe is retiring in October and will be replaced by former executive Elliott Hill, who is coming out of retirement for the role after working 32 years at the company.
Nike just announced that CEO John Donahoe will retire on October 13 to be replaced by longtime Nike stalwart Elliott Hill. Donahoe joined Nike's board in 2014 and became CEO in January 2020.
Nike CEO John Donahoe will step down from the company and former CEO Elliott Hill is coming back to replace him. Transcript: Conway Gittens: Here's what we're watching on TheStreet today.
Jim Duffy, Sitfel, joins 'Squawk on the Street' to discuss why Nike hasn't seen analyst rerating after the chief executive shake up, how quickly Nike can turn their story around, and much more.
New Nike CEO Elliot Hill is inheriting “a turnaround that has yet to show momentum,” according to Stifel analyst Jim Duffy.
Nike shares jumped Friday as investors responded positively to a reshuffling at the sneaker giant's top leadership post, as investors hope incoming CEO Elliot Hill can reverse the fortunes of the stock under incumbent John Donahoe.