Nike CEO John Donahoe Is Stepping Down

Nike announced today that current Nike president and CEO John Donahoe is stepping down, effective October 13, and will be succeeded by the returning Elliott Hill.

“It’s been an honor and privilege to be part of this incredible company, and I’ll always value my time at Nike and the opportunity to lead the organization,” said Donahoe. “I have great respect for Phil [Knight], Mark [Parker], Nike, and its employees. It became clear now was the time to make a leadership change, and Elliott is the right person. I look forward to seeing Nike and Elliott’s future successes.”

Donahoe’s retirement comes after him serving the role since 2020, when he took over for long-time exec Mark Parker. Prior to his tenure at Nike, Donahoe held the title of CEO at a number of different companies, including Ebay. Donahoe faced a series of challenges during his run including, the COVID-19 pandemic, a reselling scandal involving the son of a Nike executive, and Nike’s stock recently dropping to a four-year low.

“I would like to thank John for his contributions to Nike as President and CEO, and as a board member,” said Parker, who is still Nike’s executive chairman. “I would particularly like to recognize the role he played in leading the company during the COVID pandemic and his unwavering support for the investments Nike has made in our communities around the world.”

In addition to the role of president and CEO, Hill will also become a member of Nike’s executive committee and the director of the board of directors. He originally retired from Nike in 2020 after 32 years.

“Nike has always been a core part of who I am, and I’m ready to help lead it to an even brighter future,” said Hill of his new position. “I’m eager to reconnect with the many employees and trusted partners I’ve worked with over the years, and just as excited to build new, impactful relationships that will move us ahead. Together with our talented teams, I look forward to delivering bold, innovative products, that set us apart in the marketplace and captivate consumers for years to come.”

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