Share in Nike Inc (NYSE:NKE, ETR:NKE)surged more than 7% in after hours trading as the trainer giant announced boss John Donahoe is to step down with former executive Elliott Hill to take the helm. Nike has been losing market share to a new, younger breed of trainer makers such as the Roger Federer-backed ON and colour-focused Hoka, while its traditional markets such as China have slowed.
Elliott Hill started at Nike as an intern in 1988 but steadily scaled its ranks, banking on values of grit and hard work ingrained in him as the son of a single mom in a working class Texas neighborhood.
Nike is naming Elliott Hill, a company veteran of more than 30 years, as its new CEO. In the past few years, Nike relied too much on recycling old styles, an analyst told BI.
There has been a big C-suite shake-up at Nike (NKE). CEO John Donahoe is retiring.
Nike (NKE) CEO John Donahoe is stepping down, to be succeeded by Elliott Hill as chief executive and president of the athletic apparel company. Hill will also be joining Nike's board of directors and executive committee.
The Nike board of directors has announced a leadership transition that will see Elliott Hill, the company's former president for consumer and marketplace, who retired in 2020, return to the company as president and CEO. The board also said in a Thursday (Sept.
Nike (NKE) shares surged in extended trading Thursday after the global shoe and athletic apparel company named Elliott Hill its CEO, replacing John Donahoe.
Nike has pulled longtime company veteran Elliott Hill out of retirement to serve as president and chief executive, replacing CEO John Donahoe.
Nike just appointed a new CEO who came out of retirement to take the job. Elliott Hill will take over from John Donahoe in October, Nike said.
Nike announced that longtime executive Elliott Hill is coming out of retirement to replace John Donahoe as chief executive officer. Lily Meier reports on "Bloomberg The Close.
Nike is shaking up its top rank amid efforts to revive sales and battle rising competition.
CNBC's Sara Eisen joins 'Closing Bell Overtime' to talk Nike CEO John Donahoe stepping down.