Nike’s New CEO Spurs Celebratory Memes, Toasts and Shakeup Fears

Phil Knight and other parts of the Nike universe lauded the hiring of Elliott Hill as the sneaker giant’s next chief executive officer, but good vibes alone won’t be enough to fix a company in turmoil.

Hill, a Nike veteran, is coming out of retirement to replace CEO John Donahoe, who is retiring after Nike’s robust growth disappeared. Mark Parker, Donahoe’s predecessor and Nike executive chairman, called Hill the “right person to lead Nike’s next stage of growth” and Knight, Nike’s co-founder, said he’s “exactly what’s needed at this moment.”

Elliott Hill

Source: Nike

Nike has rarely experienced a time like ...