Elliott Hill will take over as the new CEO of Nike on October 14, replacing John Donahoe as top boss of the global sneaker and sportswear brand. A Nike veteran, Hill will be tasked with reviving flagging sales and consumer interest in the brand which, in recent months, has seen its market share being eaten by newcomers like On and Deckers' Hoka.
Elliott Hill started as an intern with Nike in 1988, rising through the ranks to hold various leadership positions until his retirement in 2020.
“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,” Hill said in a statement.
“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.”
From intern to CEO
Hill’s meteoric rise from Nike intern to CEO is mapped on his LinkedIn profile, which shows that he started working as “Intern, Apparel Sales Representative” in 1988. He has earlier revealed that he begged for six months to bag the position.
{{/usCountry}}Hill’s meteoric rise from Nike intern to CEO is mapped on his LinkedIn profile, which shows that he started working as “Intern, Apparel Sales Representative” in 1988. He has earlier revealed that he begged for six months to bag the position.
{{/usCountry}}Hill joined Nike out of graduate school at Ohio University in 1988, lobbying a company rep who had spoken at his sports marketing class.
"I bothered him for six months until he finally hired me," Hill said on the FORTitude podcast in December. "I told him ‘everybody in my class has a job except me.’"
After two years as an intern, he moved to sales and rose through the ranks steadily, banking on the values of hard work instilled in him as the son of a single mom in a working class Texas neighbourhood.
In 1998, a decade after he first started at Nike, Hill was appointed “Director, Team Sports Division.”
In his over three decades with Nike, he held several Vice President roles before eventually being promoted to President, Geographies & Sales, in 2013.
In 2020, he retired as President, Consumer & Marketplace.
According to Fortune, Nike is bringing Elliott Hill back to the organisation by offering him a package of $27 million. This includes $7 million in equity and cash awards to compensate for earnings he’s forfeiting to return to the company. Additionally, Hill is eligible for up to $20 million in potential cash and stock awards. His cash bonus, along with a long-term equity incentive valued at $15.5 million, is contingent on performance metrics.
(With inputs from Reuters)