Nike is swapping CEO John Donahoe for a new one after criticism became louder and louder. Or rather, for an old one: his successor Elliott Hill has previously worked at the sports brand for more than thirty years.
Made Nike “uncool”
On 14 October, Hill will take office as CEO and president. Hill held various leadership positions in Europe and North America for 32 years, until leaving in 2020. Current CEO John Donahoe will stay on as an advisor until 31 January 2025 to ensure a smooth transition, but will immediately retire from the board of directors.
Hill returns from retirement to save Nike, six days after Bloomberg published a scathing article about John Donahoe titled “The Man Who Made Nike Uncool”. Although Donahoe previously led eBay, he made a lot of strategic mistakes at Nike, Bloomberg asserts. The CEO remained committed to direct-to-consumer and sidelined wholesale customers, but after the Covid-19 pandemic, those former partners successfully turned to rival brands such as Adidas and Hoka.
Donahoe was also blamed for a lack of innovation, marketing efforts and flair, making Nike increasingly unable to differentiate itself. Hill therefore said upon taking office that he wanted to deliver bold, innovative products that would differentiate the brand in the marketplace and captivate consumers for years to come.
