Elliott Hill returns as Nike CEO to steer the brand out of a tough 2024
Longtime Nike insider Elliott Hill has taken the helm as chief executive, aiming to reverse a year of sales decline, product missteps and cultural drift.
Elliott Hill, a 32-year Nike veteran who began his career hauling apparel racks across Texas, has been appointed chief executive following John Donahoe’s exit after a historically poor 2024. The year saw three consecutive quarters of declining sales, a 20% share plunge that erased $28 billion in value, and public criticism of new uniform lines for the Paris Olympics and MLB. Hill’s first statements emphasized restoring sport to the core of the brand, repairing strained wholesale ties, and investing in both evolutionary and revolutionary product innovation.
He also warned that some initiatives may hurt near-term results as the company adopts a longer-term perspective. Wall Street responded with a modest stock gain, reflecting optimism that Hill’s deep cultural knowledge can revive Nike’s fortunes, though analysts note the challenges are substantial.
