The Nike board of directors has announced a leadership transition that will see Elliott Hill, the company’s former president for consumer and marketplace, who retired in 2020, return to the company as president and CEO.
The board also said in a Thursday (Sept. 19) press release that current President and CEO John Donahoe will retire from those roles and from the Nike board of directors effective Oct. 13. To ensure a smooth transition, Donahoe will remain as an adviser to the company through Jan. 31.
Donahoe said in the release: “It became clear now was the time to make a leadership change, and Elliott is the right person. I look forward to seeing Nike and Elliott’s future successes.”
When Hill was with Nike before retiring, he held senior leadership positions across Europe and North America; helped grow the business to more than $39 billion; and, when serving as president for consumer and marketplace, led all commercial and marketing operations for Nike and Jordan Brand, according to the release.
“I am excited to welcome Elliott back to Nike,” Mark Parker, executive chairman of Nike, said in the release. “Given our needs for the future, the past performance of the business, and after conducting a thoughtful succession process, the board concluded it was clear Elliott’s global expertise, leadership style, and deep understanding of our industry and partners, paired with his passion for sport, our brands, products, consumers, athletes and employees, make him the right person to lead Nike’s next stage of growth.”
Hill said in the release that he looks forward to reconnecting with the employees and partners he worked with over the years, to building new relationships and to “delivering bold, innovative products, that set us apart in the marketplace and captivate consumers for years to come.”
Nike said in a June 27 earnings release that its revenues were down 2% during the quarter ended May 31.
During an earnings call held that day, Nike Executive Vice President and Chief Financial Officer Matthew Friend said the company expected to see lower Nike Digital growth due to lower traffic caused by fewer product launches, planned declines of certain classic footwear franchises as the company works to balance supply and demand and reduced promotional activity.
For all PYMNTS retail coverage, subscribe to the daily Retail Newsletter.
We’re always on the lookout for opportunities to partner with innovators and disruptors.
Learn More