A new CEO is hoping to turn the iconic brand around.
Randy Konik, Jefferies managing director, joins CNBC's 'Money Movers' to discuss expectations for Nike's new CEO, what should Wall Street make of the transition, and more.
Athletic apparel giant Nike (NKE) ushers in a new era as former executive Elliott Hill returns to take the reins as president and CEO today. His mission is to revitalize the iconic brand and restore its powerhouse status.
The former CEO of athletic apparel and footwear giant Nike Inc. NYSE: NKE returns on Oct. 14, 2024, ushering in a possible clean slate for the company's operating woes. Nike has suffered declining sales as competitors in the consumer discretionary sector, like On Holding AG NYSE: ONON and Skechers U.S.A.
Elliott Hill is officially assuming the mantle as Nike (NKE) CEO and president on Monday after the ousting of John Donahoe. Nike shares have fallen by 25% year-to-date in 2024.
Brian Nagel, Senior Analyst at Oppenheimer & Co., discusses Elliott Hill's appointment as Nike's CEO. He believes this change signals a 'back to basics' strategy focused on product innovation and rebuilding relationships with wholesale partners.
Nike veteran Elliott Hill started as the new CEO on Monday. Hill takes the helm as the company is facing multiple challenges.
How many shares would you have now if you had bought Nike at its IPO? The answer might surprise you, especially if you took advantage of a DRIP plan.
New leadership and a refocus on its core strengths should help Nike in this transition period.
Nike is one of the most iconic brands in the world.
The announcement comes just before new CEO Elliott Hill takes the helm on Oct. 14.