Nike stock surges 8% as new CEO Elliott Hill tries to rally the troops

Wall Street cheered Nike’s move to oust CEO John Donahoe this week as the sneaker giant’s stock, which had been lagging over the past year amid slumping sales, saw a spike of more than 8%.The stock surge comes as Elliott Hill, a longtime Nike executive who left the popular sportswear brand in 2020 only to return earlier this week as its new CEO, tried to encourage staffers and lift their morale following the departure of his predecessor.“I know things haven’t been easy, and we certainly have taken our fair ...