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Elliot Hill, a seasoned Nike executive, has been appointed the new CEO of the sportswear giant. Hill, who joined Nike as an intern in 1988, is expected to navigate the company through a period of stagnation marked by declining sales and market share losses. He faces the task of revitalizing Nike's product innovation and rebuilding relationships with key vendors like Foot Locker. Hill's strategic focus will include cost-cutting measures and positioning Nike as the official outfitter of the German..

Nike has appointed Elliott Hill as its new CEO, succeeding John Donahoe, who is retiring after a tenure marked by a focus on online sales and direct-to-consumer strategies. Hill, a seasoned veteran of 32 years at Nike, previously led the consumer marketplace and played a significant role in the company's expansion to over $50 billion in annual sales. However, recent pressures from inflation, competition, and a sluggish recovery in the Chinese market have impacted sales, leading to a forecasted..