Nike announced Elliott Hill as its new CEO, effective October 14, 2024, following John Donahoe’s retirement. Hill, a seasoned executive who served as Nike’s president of consumer and marketplace before retiring in 2020, brings over three decades of experience to the role. He will also join the company’s board of directors.
The leadership change comes at a crucial time for Nike, which has faced challenges from its direct-to-consumer (DTC) strategy. Under Donahoe’s leadership, Nike emphasized its DTC model, but recent performance struggles and a 2% drop in revenue prompted a strategic pivot toward balancing DTC with wholesale partnerships.
Hill’s return is seen as an opportunity to rejuvenate the brand. Known for his deep understanding of Nike’s culture and global markets, Hill aims to drive bold product innovation and reignite the company’s competitive edge. “I’m ready to help lead Nike to an even brighter future,” Hill said, expressing his commitment to fostering new partnerships and delivering innovative products.
Nike’s leadership shift marks an important moment as the company seeks to refine its strategy and maintain its position as a leader in the sportswear industry.
