8 months ago
Nike CEO John Donahoe to step down, Elliott Hill named successor
Nike Announces Leadership Change
Nike has appointed Elliott Hill as its new CEO, replacing John Donahoe. Hill, who retired from Nike in 2020, is returning to the company where he previously held significant leadership positions.
This change comes after Nike's recent announcement of a 2% global workforce reduction, aimed at cutting costs and reinvesting in growth areas like sport, health, and wellness.
Nike's stock jumped almost 8% following the announcement, signaling positive market reception to the leadership change.
- Elliott Hill appointed as new CEO of Nike, replacing John Donahoe.
- Hill returns to Nike after retiring in 2020 from leadership roles.
- Nike recently announced 2% workforce reduction to cut costs.
- Company stock surged 8% following the leadership change announcement.
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