While the trend among the young workforce of today is to switch jobs every two years or less for supposed better pay and career advancement, Elliott Hill stuck it out with one company for three decades. And it has paid off.
The Board of Directors of NIKE, Inc. (NYSE:NKE) announced last September 19 that Hill is the next President and Chief Executive Officer of the American athletic footwear and apparel corporation, effective October 14, 2024. His profile page on LinkedIn, which shows how he has climbed the so-called corporate ladder from intern to CEO, has since gone viral.
He is also assuming the position of Director of the NIKE, Inc. Board of Directors and a member of the Executive Committee. Hill is replacing John Donahoe, who has been Nike's CEO since January 2020.
Who is Elliott Hill, Nike's New CEO and President?
Elliot Hill's journey with Nike started in 1988 when he joined as an Apparel Sales Representative intern. Over the years, he climbed the corporate ladder, taking on various sales and management roles across different regions and divisions of the company.
After his initial stint as an intern, Hill moved into sales roles, working in Sports Graphics Sales from 1990 to 1991 and in Team Sales from 1991 to 1994.
His performance in these roles led to his appointment as a Sales Representative, a position he held until 1996. Hill's leadership skills were soon recognized, and he transitioned into management roles, starting with Sales Management from 1996 to 1998. He then became the Director of the Team Sports Division, marking the beginning of his rapid ascent within the company.
In 2000, Hill took on an international role as Vice President of EMEA (Europe, Middle East, and Africa) Sales and Retail, where he spent three years. He returned to the US market as Vice President and General Manager of USA Retail for a year, followed by a role as Vice President of USA Commerce from 2004 to 2005. His career continued to flourish as he served as Vice President of Global Retail from 2006 to 2010, and later as Vice President and General Manager of North America from 2010 to 2013.
Hill's responsibilities grew as he took on more senior roles at Nike. In 2013, he became President of Geographies & Sales, a role he held until 2016. He was then appointed President of Geographies & Integrated Marketplace, serving until 2018. From 2018 to 2020, Hill served as President of Consumer & Marketplace, overseeing Nike's operations globally.
"In my previous role at NIKE as President - Consumer and Marketplace, I was running the largest brands in the sports industry and responsible for helping to grow NIKE, Inc. to $39 billion. I was also responsible for the NIKE business, which included the Jordan Brand and marketing operations and all four of Nike's geographies," he said on his LinkedIn About page.
His retirement in 2020 marked the end of an illustrious career, at least until he was pulled from a four-year corporate hiatus by the sportswear brand. To focus on his task as Nike's new president, Hill is letting go of his seat as Board Member of Weber-Stephen Products LLC, Senior Advisor of BDT & MSD Partners, Board President of Travis County Parks Foundation, Board Member of Tecovas, and Board Member of Culligan International effective September 2024.
"I am excited to welcome Elliott back to NIKE. Given our needs for the future, the past performance of the business, and after conducting a thoughtful succession process, the Board concluded it was clear Elliott's global expertise, leadership style, and deep understanding of our industry and partners, paired with his passion for sport, our brands, products, consumers, athletes, and employees, make him the right person to lead Nike's next stage of growth. Personally, I have worked with Elliott for more than 30 years and I look forward to supporting him and his senior management team as they seize the opportunities ahead," said Mark Parker, Executive Chairman of NIKE, Inc., in a statement.
"NIKE has always been a core part of who I am, and I'm ready to help lead it to an even brighter future. For 32 years, I've had the privilege of working with the best in the industry, helping to shape our company into the magical place it is today. I'm eager to reconnect with the many employees and trusted partners I've worked with over the years, and just as excited to build new, impactful relationships that will move us ahead. Together with our talented teams, I look forward to delivering bold, innovative products, that set us apart in the marketplace and captivate consumers for years to come," Hill said in the same press release.
Transition from John Donahoe
Hill is taking over from Donahoe, who was appointed to the position in January 2020. Prior to this stint with Nike, he was the President and CEO of software company ServiceNow (2017-2019) and of eBay (2008-2015).
While the switch is effective October 13, Donahoe will remain as an advisor until January 31, 2025.
"It's been an honor and privilege to be part of this incredible company, and I'll always value my time at Nike and the opportunity to lead the organization. I have great respect for Phil, Mark, Nike and its employees. It became clear now was the time to make a leadership change, and Elliott is the right person. I look forward to seeing Nike and Elliott's future successes," Donahoe said in a statement.
Nike's shares rose as much as 8.7% to $88 on September 20, a day after the change in leadership was announced. This meant hitting their highest intraday price since June 27, closing with a 6.9% gain, according to Forbes. It's also Nike's stock's biggest gain since November 2022, as the sportswear brand has been on a slump due to tough competition and changing behaviors among customers.
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