Nike Inc stock price jumped in after-hours trading Thursday on news that CEO John Donahoe is retiring and will be replaced by Elliott Hill.

New Nike CEO Elliot Hill is inheriting “a turnaround that has yet to show momentum,” according to Stifel analyst Jim Duffy.

On June 27th, Nike chief executive John Donahoe presided over one of the bleakest earnings calls in the history of the sportswear maker. Not only was the company still trying to find its level between online and brick-and-mortar sales,

Nike Inc. has named Elliott Hill as its president and CEO effective, replacing John Donahoe, who will retire next month.

The company looks to shake things up as demand for its trainers falters in international markets.

Nike's new CEO is expected to double down on the company's efforts to repair relations with retailers to energize sales, reversing a strategy under outgoing chief John Donahoe that focused on selling directly through its stores and website.

Nike’s stock soared after the news that Hill would replace current CEO John Donahoe, who will step down next month. Hill is a familiar face, spending basically his

Nike Inc. ousted beleaguered Chief Executive Officer John Donahoe, bringing longtime executive Elliott Hill out of retirement in a bid to return the struggling athletic brand to its glory days.

Nike announced that CEO and President John Donahue will retire and be replaced by former Nike executive Elliott Hill. Hill, who retired from Nike in 2020 while he was president of the company's consumer and marketplace division,