A Chinese woman walks past a Nike logo outside a Nike store in Beijing, China, on May 22, 2019. Nike announced a new president and CEO of its company on Thursday. File Photo by Wu Hong/EPA-EFE
Sept. 20 (UPI) — Nike announced that CEO and President John Donahue will retire and be replaced by former Nike executive Elliott Hill.
Hill, who retired from Nike in 2020 while he was president of the company’s consumer and marketplace division, will take on the lead role and become part of the company’s board of directors on Oct. 14.
After working at Nike for 32 years and holding various leadership positions, Hill most recently served on the board of his alma mater, Texas Christian University.
“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,” he said.
Donahue will also retire from his board seat but will remain on as an adviser through Jan. 31, 2025.
“It’s been an honor and privilege to be part of this incredible company and I’ve always valued my time at Nike and the opportunity to lead the organization,” Donahue said in a statement. “It became clear now was the time to make a leadership change, and Elliott is the right person.”
In February, Donahue announced that more than 1,500, or roughly 2% of its workforce would be laid off, admitting at the time that the company was “not currently performing at its best” and held himself responsible.
“Given our needs for the future, the past performance of the business and after conducting a thoughtful succession process, the board concluded it was clear Elliott’s global expertise, leadership style, and deep understanding of our industry and partners, paired with his passion for sport, our brands, products consumers, athletes and employees, make him the right person to lead Nik’s next stage of growth,” Mark Parker, executive chair of Nike said.