Nike Appoints Elliott Hill as CEO, Replacing John Donahoe

Nike Inc. has named Elliott Hill as president and chief executive officer, replacing John Donahoe, who will retire next month.

BEAVERTON, Ore. — Nike Inc. said Thursday it has named Elliott Hill president and chief executive officer, replacing John Donahoe, who will retire next month.

Hill returns to the company from which he retired in 2020. He previously held leadership roles at the sportswear giant in Europe and North America. Prior to his retirement, he served as president of consumer and market operations for Nike and the Jordan Brand.

Nike’s sales have been declining recently, and its stock has fallen about 24% since the start of the year. In its most recent quarter, which ended May 31, the company reported a 2% decline in revenue. Donahoe said at the time that the company was “addressing its near-term challenges head on, while continuing to make progress in the areas that matter most to Nike’s future.”

In February, the Beaverton, Oregon-based company announced that it was by cutting 2% of its global workforce, or just over 1,600 jobs, with the aim of reducing costs and reinvesting the savings in what it considers to be high-growth sectors such as sport, health and well-being.

Nike shares jumped nearly 8% after the announcement, which came after the close of regular trading on Wall Street.