Elliott Hill returns to Nike as CEO, following John Donahoe’s tenure.
- John Donahoe set to retire, with Elliott Hill starting on 14 October.
- Hill’s career with Nike began as a sales intern in 1988.
- Nike’s recent revenue showed a slight increase amidst rising competition.
- Hill expresses excitement for future growth and innovation at Nike.
Elliott Hill, former consumer and marketplace president, is set to return to Nike as the new president and CEO. This announcement was made on 19 September, succeeding John Donahoe who has served as CEO since 2020. Donahoe will retire from his role on 13 October but will continue advising the company until 31 January 2025.
Hill’s journey with Nike started in 1988 as a sales intern. Over the years, he has contributed significantly to the company’s growth and development in various roles. His extensive experience within the sportswear industry makes him a fitting successor to lead Nike into its next chapter.
In his words, “Nike has always been a core part of who I am, and I’m ready to help lead it to an even brighter future.” Hill’s enthusiasm is clear as he looks forward to reconnecting with employees and fostering new relationships that contribute to Nike’s innovative growth.
Nike reported a revenue of $51.4 billion for the period ending 31 May 2024, a slight increase from the $51.2 billion recorded the previous year. The gross profit saw a rise of 3% to $22.9 billion. Despite these figures, Nike faces growing competition from rising brands like On and Hoka, which have impacted its growth rate.
Hill emphasizes a commitment to delivering bold and innovative products that differentiate Nike in the marketplace and captivate consumers. His return is anticipated to drive strategic initiatives that bolster Nike’s position against competitors.
Elliott Hill’s reinstatement as CEO sets a promising course for Nike’s future amidst evolving industry challenges.
