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Nike’s new CEO is an old face at the company who rose from intern to CEO.
The sneaker manufacturer withdrew Elliott Hillone of the company’s veterans is retiring. He is set to take over from outgoing Nike CEO John Donahoe, who has led the company since 2020. Hill’s new appointment will take effect on October 14, in response to a company statement.
Hill’s biography, which Nike shared with BI, shows that he began with the company as a clothing sales representative trainee in 1988.
Over the course of over 30 years, he held various positions in the company.
“I began my career at NIKE as an intern in 1988, taking on 19 different roles within the organization before retiring in 2020 as president of Consumer and Markets,” Hill wrote in his recently updated LinkedIn bio, as seen by Business Insider .
In the company statement on Thursday, Hill said Nike has all the time been a “major part” of his identity.
“I look forward to reconnecting with the many employees and trusted partners I have worked with over the years, and equally excited to build new, impactful relationships that will take us forward,” he said.
Hill’s return also appears to be a part of a hiring trend in which Nike is turning to veterans of its company in an try to turn things around. In June it is hired one other retired executive, Tom Peddie. Peddie, who worked at Nike for 30 years, joined the company as vp of market partners.
Experts say Hill’s deep experience at the company will profit Nike
Hill takes over Nike among difficult situation for the sports goods brand. Nike has been operating since December 2023 execution of the plan save $2 billion over three years, some of which can come from layoffs.
The company had particular problems with this tried to sell on to sellersand its relationships with market retailers comparable to Foot Locker have deteriorated.
But now Nike will double down on its focus on retailers. His strengthened partnerships with corporations like Designer Brands, Macy’s and Foot Locker, especially after cracks began to indicate in direct-to-consumer sales.
Management experts interviewed by BI said that hiring a Nike veteran who knows the company intimately may gain advantage the company during the crisis.
“An experienced professional like Elliott Hill brings a wealth of valuable first-hand experience that can be useful in addressing Nike’s current challenges, such as rebuilding strained relationships with retail partners,” David Daniels, assistant professor of management and organization at the National University of Singapore, BI said.
But Daniels added that CEOs with insider information run the risk of being “too deeply entrenched in traditional thinking, which can limit their ability to implement the bold, innovative strategies that are often needed in crisis situations.”
“In turn, outside CEOs can offer fresh perspectives and greater diversity of thought, which is important for successfully navigating complex change,” Daniels added.
But Hill’s years at the company also mean he knows its structure and many of the individuals who work inside it.
Peter Cappelli, professor of management and human resources at the Wharton School of the University of Pennsylvania, told BI: “That depth that all CEOs had 40 years ago means you already know who people are, who is and who is not” .
“You also know what’s worth keeping,” Cappelli added.
Elliot Hill returns to Nike, the company where he built his profession, and he has a big job ahead of him. Justin Sullivan/Getty Images via BI
But this can be a double-edged sword. Cappelli added that there could also be “a reluctance to change in a way that hurts the people who are still working there, especially former mentors.”
Jim Duffy, a Nike analyst at Stifel Institutional, told BI’s Lloyd Lee that Hill’s return as a Nike specialist could well result in a “revitalization of Nike culture.”
“I also expect you’ll see something like this a renaissance of innovation and product development process,” Duffy added.
Not many CEOs can say they went from an intern to a top position in their company. Former CEO of Xerox, Ursula Burns, was one of them.
She began working at Xerox in 1980 as a summer mechanical engineering intern while earning a master’s degree from Columbia University.
Burns rose from product development and planning positions to executive assistant and vp. She was appointed CEO in July 2009.
Nike representatives didn’t reply to Business Insider’s request for comment sent outside business hours.