Nike announced that John Donahoe, the company’s current President and CEO, will step down from his role effective 13 October 2024. His successor will be Elliott Hill, who is returning to Nike after retiring in 2020.

Donahoe expressed gratitude for his time at Nike, stating, “It’s been an honor and privilege to be part of this incredible company. I’ll always value my time at Nike and the opportunity to lead the organization.” He added, “I have great respect for Phil [Knight], Mark [Parker], Nike, and its employees. 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.”

Donahoe’s tenure as CEO began in 2020, following Mark Parker’s long-standing leadership. Prior to joining Nike, Donahoe held the position of CEO at several companies, including eBay. During his time at Nike, Donahoe faced challenges such as the COVID-19 pandemic, a reselling scandal involving the son of a Nike executive, and a decline in Nike’s stock price to a four-year low.

Mark Parker, Nike’s executive chairman, praised Donahoe’s contributions, saying, “I would like to thank John for his contributions to Nike as President and CEO, and as a board member. I would particularly like to recognize the role he played in leading the company during the COVID pandemic and his unwavering support for the investments Nike has made in our communities around the world.”

Hill, in addition to assuming the role of President and CEO, will also join Nike’s executive committee and board of directors. He expressed excitement about returning to the company, saying, “Nike has always been a core part of who I am, and I’m ready to help lead it to an even brighter future. I’m eager to reconnect with the many employees and trusted partners I’ve worked with over the years, and just as excited to build new, impactful relationships that will move us ahead.”

Hill concluded, “Together with our talented teams, I look forward to delivering bold, innovative products that set us apart in the marketplace and captivate consumers for years to come.”

Source: Complex

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