Nike says Elliott Hill will replace John Donahoe as CEO in October. Nike has struggled to turn around its business over the last year.

Nike announced on Thursday (19 September) that former consumer and marketplace president Elliott Hill will return to the sportswear giant as president and CEO, replacing John Donahoe.

Nike has hired former senior executive Elliott Hill as its new CEO, taking over the reins John Donahoe as the brand's president and chief executive.

Over the course of over 30 years, he worked his way up to top management. Management experts say the company veteran could help turn Nike around.

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.

The company looks to shake things up as demand for its trainers falters in international markets.

Nike Inc. ousted beleaguered chief executive John Donahoe, bringing longtime executive Elliott Hill out of retirement to return the struggling athletic brand to its glory days.

Nike on Thursday announced it would replace CEO John Donahoe with his former colleague, Elliott Hill, sending the stock soaring on the news. Hill, 60, is returning to Nike four years after retiring from the sneaker giant.

The athletic giant announced Thursday that CEO John Donahoe will retire next month and will be replaced by Elliott Hill, a veteran former Nike executive. Nike’s stock rose 9% during after-hours trading Thursday,