Nike Shares Surge After CEO Transition Announcement: Elliott Hill to Lead

Following the company’s announcement of a CEO transfer, Nike Inc. (NKE) shares are rising during Thursday’s after-hours trading session. Nike announced Thursday after the market closed that Elliott Hill, a longtime Nike veteran, will take over as president and CEO of the company on October 14. Hill will also join the executive committee and become a director of the board.

John Donahoe and the board decided that Donahoe would step down as president and CEO of Nike on October 13. To enable a seamless transition, the departing CEO will continue to serve as an advisor to the business until January 31, 2025.

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 Nike’s next stage of growth. Personally, I have worked with Elliott for more than 30 years and I look forward to supporting him and his senior management team as they seize the opportunities ahead.

Mark Parker, executive chairman of Nike.

From Retirement to CEO: Elliott Hill’s Return Marks New Era for Nike

Before he retired in 2020, Hill held senior leadership roles at Nike throughout Europe and North America. He oversaw operations for the Jordan and Nike brands while serving as president of the company’s Consumer and Marketplace divisions prior to his retirement.

For 32 years, I’ve had the privilege of working with the best in the industry, helping to shape our company into the magical place it is today. 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.

Hill

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