Elliott Hill, a veteran Nike employee who rose through the ranks from intern to President, will become the company's new CEO next month. He replaces retiring John Donahoe and takes on the challenge of reviving the sportswear giant amid declining sales and increased competition.
- Elliott Hill started at Nike as an intern in 1988 but steadily scaled its ranks, banking on values of grit and hard work ingrained in him as the son of a single mom in a working class Texas neighborhood.
Its sales have faltered in recent months, as nimbler, more innovative brands such as On and Deckers' Hoka have gained market share. Nike is in the midst of what it says will be a three-year endeavor to cut $2 billion in costs. His blue-collar bona fides go back even further than that. Born in Austin in 1963, Hill's father left the family when he was three. His mother set an "unbelievable example in terms of commitment and work ethic," he told the podcast. Sports, he added, became a key piece of his childhood.
Hill did not respond to a Reuters email seeking comment. But Nike said Hill was well-regarded internally, and believes his hire will be popular with employees.The Texas Christian University graduate helped lead Nike's Dream Crazy campaign, narrated by NFL quarterback Colin Kaepernick, in 2018. He also built relationships with key athletes, including Michael Jordan.
Hill and his wife, Gina, created a scholarship at Central Catholic High School in Portland, Oregon, where the couple's children attended school. Hill raised money for the scholarship by auctioning the sports memorabilia collection he had accumulated in three decades at Nike. “Elliott is the best possible person for the job and to help get Nike back to winning again," he said."Product innovation at the company is still lacking," said Brian Nagel, an analyst at Oppenheimer, adding that "management has been loath" to restore partnerships with key retailers.
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