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Nike Announces CEO Transition: Elliott Hill to Succeed John Donahoe on October 14, Stock Surges

Sep 19, 2024, 08:24 PM

Nike, Inc. has announced that its current CEO, John Donahoe, will retire on October 13, 2024. The Board of Directors has named Elliott Hill, a long-time veteran of the company, to return as President and CEO effective October 14, 2024. Hill, who previously retired from Nike in 2020 after serving 32 years, most recently as President of Consumer and Marketplace, is well-regarded within the company. Following the announcement, Nike's stock surged by 8.9% in after-hours trading. Hill's compensation as President and CEO will include an annual base salary of $1.5 million.