Elliott Hill Named New Nike CEO

Nike has announced Elliott Hill as its new CEO, effective October 14, 2024, succeeding John Donahoe. Hill, a veteran of the company with over 32 years of experience, began his career as an intern in 1988 and has held various leadership roles, including President of Consumer & Marketplace before his retirement in 2020. His return comes as Nike faces declining sales and increased competition, prompting the need for revitalization strategies. Hill emphasized his passion for the brand and eagerness to reconnect with former colleagues and partners to drive growth. Analysts have noted that his extensive experience and previous success at the company position him well to lead Nike through its current challenges. His annual base salary as CEO will be $1.5 million.