Nike on Thursday announced it would replace CEO John Donahoe with his former colleague, Elliott Hill, sending the stock soaring on the news.
Hill, 60, is returning to Nike four years after retiring from the sneaker giant. According to the company, Hill spent decades in leadership positions in Europe and North America, serving as president of its consumer and marketplace business units and leading commercial and marketing operations for the Nike and Jordan brands. After the company announced that Donahoe would step down, share prices leapt as high as 11% in after-hours trading.
