The current issue of Manager Magazine highlights what the old and new CEOs plan to do with the company from Beaverton, Oregon. Elliott Hill has been back on the board since October 2024 after retiring more than four years ago. He previously worked at Nike for more than 30 years. Before Hill’s second engagement, John Donahoe was CEO – and recently presented disappointing figures. The reason for this was, among other things, as Manager Magazine says, the strict digital strategy with which Nike alienated many retailers. In addition, there has recently been a lack of innovation and experienced top managers have left the company.
The turnaround is now visible under Hill. He brought several of the managers back. According to Manager Magazin, the CEO is also focusing on the sports division and has intensified his cooperation with retailers again. Recently, market observers had painted a devastating picture of Nike: Hill’s predecessor Donahoe had created a “cannibalistic ecosystem that in just three years has consumed brand value, product value, gross profit margin, market shares, the marketing budget and the relationship with the consumer,” says the Italian Massimo Giunco, himself a long-time brand manager at Nike.
Now the focus should be on sport again. The inventory, estimated at $8 billion, is to be reduced and marketing is to take a new direction.
This is how Nike should get out of the crisis
