.September 20, 2024 Friday 04:34:00 AM

Nike (NYSE:NKE) announced Elliott Hill as the new President and CEO, taking over from John Donahoe on October 14. This news led to a 6% surge in Nike’s shares in pre-market trading. Donahoe will step down on October 13 but will advise the company until January 31, 2025, for a smooth transition. Executive Chairman Mark Parker praised Hill’s global expertise and industry knowledge, expressing confidence in his leadership. Parker also commended Donahoe for his impactful leadership, especially during the challenges of the COVID-19 pandemic and his contributions to community-focused initiatives.