Nike (NYSE) announced that Elliott Hill will become the new President and CEO on October 14, 2024, succeeding John Donahoe, who is retiring on October 13. Donahoe will stay on as an advisor until January 31, 2025, to ensure a smooth transition. After the news, Nike's shares surged nearly 8% in after-hours trading. Hill, a long-time Nike executive who retired in 2020, has held key leadership roles in Europe and North America. Mark Parker, Nike's Executive Chairman, praised both Hill's industry knowledge and Donahoe's leadership during critical times like the COVID-19 pandemic.
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