Nike appoints Elliott Hill as the new CEO, a seasoned leader returning to steer the company forward.
- Elliott Hill, a former senior executive at Nike, takes over from John Donahoe as CEO.
- Hill’s expertise spans 32 years at Nike, covering key roles in both North America and Europe.
- Nike is pushing for a turnaround amid rising competition from brands like Adidas, On, and Hoka.
- The company seeks substantial cost savings following recent sales declines.
Nike has appointed Elliott Hill as its new Chief Executive Officer, stepping in to replace John Donahoe. With a rich history at Nike spanning over three decades, Hill is anticipated to lead the company through a phase of revitalisation.
Hill’s tenure at Nike commenced 32 years ago, during which he assumed various senior leadership roles. His role encompassed critical responsibilities in market operations and commercial management for both Nike and its Jordan brand, notably contributing to the company’s growth to over £29.28 billion.
After exiting Nike in 2020 as President, Consumer Marketplace, Elliott Hill’s return marks a strategic decision aimed at harnessing his extensive experience to drive the brand forward in a competitive market.
Nike is currently navigating a challenging business environment with growing competitive pressures from other sportswear giants such as Adidas, as well as emerging brands like On and Hoka. In response, the brand has initiated plans to slash 1,600 jobs in a bid to achieve £1.6 billion in cost savings over three years, aiming to offset the impact of softer sales.
Nike’s Board expects Hill to spearhead its efforts to regain market traction, leveraging his in-depth knowledge of the brand and industry to guide strategic decisions.
Elliott Hill’s appointment as CEO signifies Nike’s commitment to reinvigorate its market position amid growing competition.
