In a surprise move, Nike, Inc. on Thursday announced CEO John Donahoe will be retiring Oct. 13 and will be replaced by Elliott Hill, who will serve as president and chief executive and serve on the board of directors and executive committee. The move comes as the athletic giant struggles with a slumping stock price and competition from smaller rivals. The stock jumped in extended trading on the news. Ticker Security Last Change Change % NKE NIKE INC. 80.97 +0.04 +0.04% Hill will be tasked with turning ar ...

Nike just appointed a new CEO who came out of retirement to take the job.Elliott Hill will take over from John Donahoe in October, Nike said.It's the latest move Nike's making to right its business. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Go to newsletter preferences Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. Email address By clicki ...

Nike said Thursday that CEO John Donahoe will retire after more than five years at the helm as the sportswear giant shakes up its top rank amid efforts to revive sales and battle rising competition.The company named Elliott Hill president and chief executive officer, effective Oct. 14, 2024.Donahoe was tasked with bolstering Nike’s online presence and drive sales through direct-to-consumer channels.CEO John Donahoe will retire after more than five years at the helm. Getty ImagesThe push initially helped the ...

John Donahoe, CEO of Nike, attends the annual Allen and Co. Sun Valley Media and Technology Conference at the Sun Valley Resort in Sun Valley, Idaho, U.S., July 10, 2024.Nike on Thursday announced that its CEO John Donahoe is stepping down and longtime company veteran Elliott Hill will take the helm of the sneaker giant. Donahoe, who has been Nike's CEO since Jan. 2020, will retire from his position on Oct. 13. He will stay on as an advisor through the end of January. Hill is slated to take over on the foll ...

ANAHEIM, Calif., Sept. 18, 2024 (GLOBE NEWSWIRE) -- After seven years of partnership, the Masons of California, in affiliation with the Angels Nike RBI League, is proud to announce that they have raised a record-setting $55,198 this season for youth development programs through their signature Masons4Mitts baseball mitt drive. This marks a total of $2.3 million donated through MLB community foundations since Masons4Mitts was established in 2009. Since 2018, the Masons of California have provided over 11,000 ...

Ackman sees an impressive turnaround story in the future for this top brand. Bill Ackman is well-known for buying large stakes in what he believes are undervalued companies and using his influence as a major shareholder to push management to make changes to unlock value. In May, Ackman revealed that he had established two new positions in his Pershing Square hedge fund, which holds an equity portfolio valued at over $10 billion. One of those positions, Brookfield Corp, has performed well since Ackman establ ...

Nike has the brand power to help it transition through this current period.Few three-word slogans have taken the world by storm quite like "Just Do It." In fact, I probably don't even have to mention whose slogan it is because that's how iconic it has become. But, just in case, I'll give Nike (NKE -1.89%) its due credit for the simplistic brilliance.Nike is a case study-worthy example of how branding should be done and the benefits that come along with a great brand. It has transcended just sports and turne ...

Investors should learn more about the leader in the sportswear industry.In the past two decades, investing in shares of Nike (NKE -0.25%) would've resulted in an impressive 11-fold total return. That exceeds the S&P 500's performance during the same time.However, the sportswear giant is currently in the middle of a tough stretch. Shares are down 55% from their all-time high.Given its tremendous long-term performance, investors should at least take the time to know these three things about the business. Mayb ...

A billionaire investor with an eye for value bought a piece of this business.Shares of shoe and athletic apparel company Nike (NKE -0.25%) gained 11.3% during August, according to data provided by S&P Global Market Intelligence. For most of the month, the stock bounced up and down with the S&P 500. But it created some separation when news broke that Pershing Square had purchased a stake in the business.Pershing Square is the hedge fund for billionaire Bill Ackman -- a value-minded investor with plenty of na ...

The world's largest footwear maker still has a lot to prove.Nike (NKE -1.97%) was often considered a safe blue-chip stock for long-term investors. It's the world's largest footwear company by annual revenue, it has plenty of brand recognition and pricing power, and it's worn by many popular athletes.But over the past 12 months, Nike's stock fell nearly 20% and trades more than 50% below its all-time high in November 2021. Let's see why the bulls shunned this iconic footwear stock and if it can bounce back o ...