Nike will be led by its former CEO Elliot Hill. President and CEO John Dohanue will step down in October, according to a statement from the company’s board of directors, published on Nike’s official website.
Author:
https://rb.ru/author/ntihonov/
Subscribe to RB.RU on Telegram
Hill joined Nike as an intern in 1988. In 2020, he concluded his career with the company as President of Consumer Markets.
Donahue served as the company’s chief executive for nearly five years. According to The New York Times, despite his merits and contributions to his work, he was not perceived as an innovator or a marketer.
Following the announcement of the management changes, Nike shares immediately rose by 10% to $89.26 per share. But these figures are far from the peak reached in November 2021, when the security was priced at $177.
At the end of last year, the company reported lower projected sales and decided to cut costs by $2 billion over the next three years. In the summer of 2022, Nike completely left the Russian market. The company has been operating in Russia since 1994.
In August 2024, American sportswear brand Nike and Danish toy manufacturer Lego signed a long-term strategic partnership agreement. Lego has previously collaborated with Adidas and this will be the first partnership with Nike.
Author:
Nikolai Tikhonov
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
