FX.co ★ NIKE CEO John Donahoe To Retire, Elliott Hill To Succeed

NIKE Inc. (NKE) announced Thursday that John Donahoe will retire as President and Chief Executive Officer, and from the Board, effective October 13. Elliott Hill is set to succeed him as President and Chief Executive Officer starting October 14, 2024.

Hill will also join the Board of Directors and become a member of the Executive Committee.

"I am thrilled to welcome Elliott back to NIKE. With our future needs in mind, and after a thoughtful succession process, the Board recognized Elliott's global expertise, leadership style, and deep industry understanding, coupled with his passion for sport, our brands, products, consumers, athletes, and employees, position him perfectly to spearhead Nike's next growth phase," said Mark Parker, Executive Chairman of NIKE, Inc.

Donahoe will stay on as an advisor to facilitate a smooth transition until January 31, 2025.

"I want to extend my gratitude to John for his contributions as President and CEO, and as a board member. His leadership during the COVID pandemic and steadfast support of Nike's investments in global communities have been invaluable," Parker added.