Nike chief executive John Donahoe will retire next month in an abrupt leadership change punctuating a period of dour financial performance at the world’s largest sportswear maker.
Nike’s board of directors said on Thursday that Elliott Hill, a Nike veteran who previously served as president of consumer marketplace before retiring in 2020, will return to take the top job effective October 14.
Nike shares rose almost 10 per cent after the change was announced.
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