Effective October 13, Nike CEO John Donahoe will leave the sporting goods manufacturer. He will be succeeded by former Nike executive Elliott Hill, who held various management positions before retiring in 2020. Hill was most recently responsible for the retail and marketing activities of Nike and the Jordan brand.
John Donahoe has been a member of Nike’s board of directors since 2014. In January 2020, he assumed the position of CEO, succeeding Mark Parker. Prior to Nike, Donahoe was president and CEO of Servicenow and eBay. Earlier in his career, he worked for Bain & Company for nearly two decades, becoming the company’s president and CEO in 1999.
“In light of our future needs, past business performance and after conducting a thoughtful succession process, the Board has concluded that Elliott’s global expertise, leadership style and deep understanding of our industry and partners, coupled with his passion for sport, our brands, products, consumers, athletes and employees, make him the right person to lead Nike’s next phase of growth,” Nike Executive Chairman Mark Parker said in a statement. “I have personally worked with Elliott for more than 30 years and look forward to supporting him and his leadership team as they seize the opportunities ahead.”
Donahoe had recently come under pressure because the company had not brought enough innovative products to market and had lost its leading role in the sports segment. Experts and observers also criticized the loss of market share in important product categories. Recently, sales development fell short of expectations.
