Nike has announced the appointment of Elliott Hill as its new CEO, effective 14 October.
- Elliott Hill previously served in senior roles at Nike for 32 years across major markets.
- Hill succeeds John Donahoe, aiming to drive Nike’s sales amid growing competition.
- Despite recent setbacks, Nike seeks £1.6bn in cost reductions over the next three years.
- Hill’s strategic expertise is expected to revitalize Nike’s market positioning.
Nike has announced a leadership change, appointing Elliott Hill as its new CEO effective 14 October. Hill steps into the role following the tenure of John Donahoe. His extensive experience at Nike over 32 years, covering North America and Europe, makes him a seasoned choice for steering the company forward.
During his tenure, Hill significantly contributed to Nike’s growth, helping the retail giant exceed a revenue base of £29.28bn. In his previous role as president of the consumer marketplace, Hill managed market operations for both the Nike and Jordan brands. This experience aligns with his new responsibilities to navigate through the competitive landscape.
Hill’s appointment comes at a pivotal time for Nike. The company has been facing increased competition from rivals such as Adidas, as well as emerging brands like On and Hoka. Consequently, Nike has embarked on a strategic plan aiming for £1.6bn in cost savings over the next three years, including the elimination of approximately 1,600 roles.
Hill’s leadership is notably data-driven and market-oriented, with a substantial annual base salary of £1.13m reflecting the company’s investment in his expertise. As Nike endeavours to enhance its market position, Hill’s approach will be crucial in revitalising its sales figures amidst the evolving dynamics of the sportswear industry.
Elliott Hill’s leadership marks a new chapter for Nike as the brand seeks to regain its competitive edge and achieve strategic objectives.
