Elliott Hill has been appointed as the new president and CEO of Nike, succeeding John Donahoe, who is stepping down after a challenging tenure. Hill returns to the company after retiring in 2020, bringing 32 years of experience, including significant roles in consumer engagement and marketplace strategy. His appointment comes at a critical time as Nike seeks to regain its competitive edge against emerging brands like Hoka and On, amidst a backdrop of declining stock prices and revenue forecasts. Analysts view Hill's leadership as a fresh start for Nike, with investors responding positively as the company's shares rose significantly following the announcement. Hill has expressed his commitment to innovating Nike's product offerings and reconnecting with employees and partners. The transition officially takes place on October 14, 2023.