Elliott Hill will replace John Donahoe as chief executive next month, following months of struggles for the athletic-wear giant.
Nike said on Thursday that CEO John Donahoe will retire after more than five years at the helm as the sportswear giant shakes up its top rank amid efforts to revive sales and battle rising competition.
Nike CEO John Donahoe is out, replaced by Elliott Hill
Nike (NKE) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.
Nike (NKE) closed the most recent trading day at $80.64, moving +1.05% from the previous trading session.
Bill Ackman invests in companies he believes are trading below their long-term value. One company has hit a rough patch as it transitions its business strategy.
Nike shares have sent to the bargain bin after recent struggles. The company set a low bar for fiscal Q1 that it should jump over.
There are fears that a slowdown in China will badly affect the athletic apparel wear's fundamentals. One analyst predicts that the impact will be marginal at best, however.
In the latest trading session, Nike (NKE) closed at $78.40, marking a +0.4% move from the previous day.
Nike shareholders have voted against a proposal to consider joining binding agreements with supply chain workers to better address human rights issues in high-risk countries at its annual meeting, the company said on Tuesday.
Nike finished 2023 with a brand value of more than $53 billion. Nike's direct-to-consumer strategy was an admitted misstep in its business.