NIKE CEO John Donahoe To Retire, Elliott Hill To Succeed

(RTTNews) - NIKE Inc. (NKE) Thursday announced that John Donahoe has decided to retire from his role as President and Chief Executive Officer and from the Board, effective October 13. Elliott Hill will become President and Chief Executive Officer, effective October 14, 2024.

Hill will also become a Director of the Board of Directors and a member of the Executive Committee.

"I am excited to welcome Elliott back to NIKE. 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," said Mark Parker, Executive Chairman of NIKE, Inc.

Donahoe will remain as an advisor to the company to ensure a smooth transition through January 31, 2025.

"I would like to thank John for his contributions to Nike as President and CEO, and as a board member. I would particularly like to recognize the role he played in leading the company during the COVID pandemic and his unwavering support for the investments Nike has made in our communities around the world," added Parker.