BEAVERTON, Ore. — Nike announced Thursday that John Donahoe will retire from his role as president and CEO, effective Oct. 13. Elliott Hill, a former president of consumer and marketplace at the company, will replace Donahoe as president and CEO, starting Oct. 14.
Donahoe will stay on as an advisor at Nike through the end of January 2025. Hill will also become a member of the board of directors and executive committee.
"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," said Mark Parker, executive chairman of NIKE, Inc.
"Personally, I have worked with Elliott for more than 30 years, and I look forward to supporting him and his senior management team as they seize the opportunities ahead," Parker concluded.
Hill held senior leadership positions at Nike, including as president of consumer and marketplace for Nike and Jordan Brand, before he retired in 2020.
"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," Hill 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."
Parker also thanked Donahoe in the news release for his time as president and CEO at Nike, citing specifically Donahoe's role in leading the company during the COVID-19 pandemic. Donahoe became CEO of Nike in 2019 after Mark Parker retired.
"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," Donahoe said. "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."
Nike, which employs about 83,000 workers worldwide, including more than 11,000 at its Beaverton headquarters, announced in February that it would lay off 2% of its workforce across the world, including about 740 employees in Beaverton. The company's stock fell from $122.53 in late December 2023 to $80.80 on Sept. 19.
