2024-09-19 23:55:08
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Nike Welcomes Elliott Hill as New CEO Amid Sales Challenges
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Yahoo Finance
Economy
Finance
Nike veteran Elliott Hill named CEO, replacing retiring John Donahoe; led consumer ops and $39 billion growth; Donahoe focused on online and direct, but sales pressured by inflation, slower China; Nike hit $50 billion annual sales, forecast at $48.87 billion.
The Guardian
Nike appoints new CEO as sportswear giant’s sales come under pressure
Economy
Finance
Technology
Nike appoints former executive Elliott Hill as new CEO to revive sales and battle competition. Hill previously led Nike's consumer marketplace and Jordan brand, helping grow the business to over $50bn in annual sales. However, sales have come under pressure due to a slower-than-expected rebound in China, a lack of innovative products, and competition from rival brands like On and Hoka. Expectations for a change at the top were heightened after billionaire investor Bill Ackman disclosed a stake..
Yahoo Finance
Nike names former executive Elliott Hill as CEO
Economy
Finance
Nike names Elliott Hill CEO, replacing retiring Donahoe; stock up 10%; Hill led consumer/marketplace, but Nike's direct sales fell 8% amid competition from Adidas, On, Hoka; Nike expects revenue to decline more than expected; Q4 revenue fell 2% to $12.61B, but EPS beat estimates.
focus
A familiar face returns - Nike boss Donahoe has to go! His successor is already in place
Economy
Finance
Nike CEO John Donahoe, former Ebay CEO, is leaving the sports equipment giant. His successor is company veteran Elliott Hill, who is coming out of retirement. Donahoe's strategy focused more on direct sales, which was partially replaced by competing products.
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