From Yahoo Finance.: 2024-09-19 16:22:39

Nike has appointed Elliott Hill as the new president and CEO to succeed John Donahoe. Hill, a former senior executive at Nike, was responsible for growing the business to over $39 billion. His compensation will include a base salary of $1.5 million. The CEO change is seen as a positive signal by analysts. Donahoe’s efforts to boost online sales initially helped Nike reach over $50 billion in annual sales, but growth has slowed due to inflation and lack of innovative products. Expectations for change at the top were heightened after billionaire-investor William Ackman revealed a stake in Nike.



Read more at Yahoo Finance.: Nike names company veteran Elliott Hill as new CEO; John Donahoe to retire