Nike Names Elliott Hill as New CEO Amid Strategic Overhaul

Hill returns to lead Nike after John Donahoe's departure following criticism over the company's digital strategy and declining market position.

John Donahoe steps down as Nike CEO after a tumultuous tenure marked by declining sales and market cap losses.
Elliott Hill, a veteran with over 30 years at Nike, has been appointed as the new CEO, sparking optimism among investors.
Nike's aggressive shift towards a direct-to-consumer model under Donahoe led to strained relationships with wholesale partners and a loss of market share to emerging brands.
The company's focus on digital innovation and the metaverse failed to resonate with consumers, resulting in a lack of new product excitement and cultural relevance.
Hill's immediate challenges include revitalizing product innovation, rebuilding retailer relationships, and reconnecting with Nike's core consumer base.