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.
Nike (NKE) shares jumped nearly 8% in pre-market trading Friday after the world's largest athletic apparel and equipment company announced Elliott Hill will replace John Donahoe as CEO amid a leadership shakeup aimed at reviving sales and competing more effectively with rival brands.
Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our analyst ratings page.
Stacey Widlitz, President at S-W Retail Advisors and Dealmakehers CO-Founder, discusses Nike's leadership change, praising the return of an experienced executive to boost innovation.
Nike's new CEO, Elliot Hill, admitted things "haven't been easy" for the brand in a message to staff. Hill, a Nike veteran, will replace John Donahoe as CEO.
That strategy had taken a back seat under outgoing chief John Donahoe.
Nike veteran Elliott Hill is returning to lead the company as its CEO, replacing John Donahoe. The company offered Hill $27 million in compensation, $2 million less than Donahoe's 2023 earnings.
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.