Nike Announces CEO Transition: John Donahoe to Retire, Elliott Hill to Take Over

Beaverton, Ore. – Nike announced Thursday that President and CEO John Donahoe will retire from his role, effective Oct. 13. Elliott Hill, a former Nike executive, will step into the position starting Oct. 14.

Donahoe, who has led the company since 2019, will remain as an advisor until January 2025. Hill, who previously served as Nike’s president of consumer and marketplace, will also join the board of directors and executive committee.

“I am excited to welcome Elliott back to Nike,” said Mark Parker, executive chairman of Nike, Inc., in a statement. “His global expertise, leadership style, and deep understanding of our industry make him the right person to lead Nike’s next stage of growth.”

Hill, who retired in 2020 after 32 years with the company, expressed enthusiasm about returning to Nike. “I’m ready to help lead it to an even brighter future,” Hill said. “Together with our talented teams, I look forward to delivering bold, innovative products that captivate consumers for years to come.”

Parker also thanked Donahoe for his leadership during his tenure, particularly his role in guiding the company through the COVID-19 pandemic.

Nike, which employs about 83,000 workers globally, announced layoffs affecting 2% of its workforce earlier this year, including 740 employees at its Beaverton headquarters. The company’s stock has declined from $122.53 in December 2023 to $80.80 as of Sept. 19.