Nike has hired former senior executive Elliott Hill as its new CEO, taking over the reins from John Donahoe as the brand’s president and chief executive.
Hill previously worked at the sportswear giant for 32 years in senior leadership roles across North America and Europe.
The executive, who is due to begin his role from 14 October, was responsible for helping grow the retailer to over £29.28bn, according to Nike.
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Before retiring in 2020, he was president, consumer marketplace at the chain, leading its market operations and commercial for Nike and its Jordan brand.
Hill will be paid an annual base salary of £1.13m.
Nike is currently seeking to revive its sales as it faces increasing competition from the likes of Adidas and new players such as On and Hoka.
Earlier this year, the brand unveiled plans to cut 1,600 roles as it sought to make £1.6bn in cost savings over the next three years on the back of softer sales.
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