Nike Replaces CEO John Donahoe with Veteran Elliott Hill Amid Strategic Shifts

Elliott Hill returns to Nike to address challenges in direct-to-consumer strategy and China market, while capitalizing on Jordan Brand growth.

John Donahoe steps down as Nike CEO, with Elliott Hill set to take over on October 13.
Hill's return is met with approval from employees and investors, leading to a 9% stock increase.
Nike's direct-to-consumer push under Donahoe faced setbacks, including loss of retail partners and inventory backlogs.
Jordan Brand saw significant growth, expanding into new markets and increasing sales from $3.1 billion in 2019 to $7 billion in 2024.
Nike's growth in China has stagnated, with challenges from local competitors and economic factors affecting sales.