Nike's new CEO: What to know

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 ...