The board of directors of Nike, a sportswear producer, has announced expected changes in the company’s management.
Oku.Az reports on this with reference to RBC.
According to the report, John Donahue, who has served as president and CEO since January 2020, will step down on October 14. He will be replaced by company legend Elliot Hill, who began his career at Nike in 1988 with an internship program.
Hill has come a long way at Nike, ending his run as president of consumer markets in 2020. His return marks the beginning of a new era for the company, which has faced a number of challenges in recent years, including declining consumer demand in China and Europe.
The New York Times writes that despite Donahue’s services, he was not seen as an innovator or marketer who could take Nike to a new level. Investors welcomed the news of the change in management: the company’s shares rose 10% to $89.26 after the announcement. But this indicator is still far from the high of $177 recorded in November 2021.
Juan Donahue
eliot hill
