John Donahoe Steps Down as Nike CEO, Nike Veteran Elliot Hill to Take Charge

Nike has announced a significant leadership transition, appointing Elliott Hill as the new President and Chief Executive Officer, effective October 14, 2024.

This change comes as John Donahoe, the current President and CEO, prepares to step down from his roles and from the Nike, Inc. Board of Directors on October 13.

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

Elliott Hill, who will also join the Nike, Inc. Board of Directors and become a member of the Executive Committee, is rejoining the company where he previously held senior leadership roles and was instrumental in growing the business. His last position before retiring in 2020 was as President—consumer and Marketplace, overseeing all commercial and marketing operations for Nike and Jordan Brand.

The news comes after a rough period for Nike, which saw investor confidence drop, sluggish sales, and backtracking on its strong shift to direct-to-consumer product delivery.

In response to today's news, Nike's stock skyrocketed by over 10%.

Mark Parker, Executive Chairman of Nike, Inc., expressed his confidence in Hill, stating, “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.” Parker, who has worked with Hill for over 30 years, also looks forward to supporting him and his senior management team.

John Donahoe acknowledged the timing of the leadership change. He endorsed Hill as his successor: “It’s been an honor and privilege to be part of this incredible company, and I’ll always value my time at Nike and the opportunity to lead the organization. I have great respect for Phil, Mark, Nike and its employees,” said Donahoe. “It became clear now was the time to make a leadership change, and Elliott is the right person. I look forward to seeing Nike and Elliott’s future successes.”

Hill, a graduate of Texas Christian University (TCU) and Ohio University, expressed his readiness to lead Nike into the future: “NIKE has always been a core part of who I am, and I’m ready to help lead it to an even brighter future. 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,” he said. “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. Together with our talented teams, I look forward to delivering bold, innovative products, that set us apart in the marketplace and captivate consumers for years to come.”