After several quarters of underwhelming results, Nike is replacing its CEO. Longtime company executive Elliott Hill will become the next CEO.
'Mad Money' host Jim Cramer looks at the CEO switch-up at Nike.
In hiring veteran Elliott Hill, Nike signaled its intent to bring the company back to its glory days.
The announcement that Nike Inc NKE is bringing in Elliot Hill as the new CEO could be a positive change given his experience and company tenure, but it raises questions about the company's strategy for a turnaround and plans to return to revenue growth.
Shares of Nike (NYSE: NKE) jumped in after-hours trading on Thursday after news broke that CEO John Donahoe is leaving the company and will be replaced by Elliott Hill, a Nike veteran who had held a number of senior positions before retiring in 2020.
Shares of Nike (NKE) are rallying after the company announced that CEO John Donahoe will be stepping down next month after a rocky five years at the company. Nike veteran Elliott Hill will come out of retirement to fill the role of CEO and president effective October 14.
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.