On 19 Sept, Nike announced that its new CEO will be Elliott Hill.
Turns out, this is not Mr Hill’s first stint at the company — having started as a mere intern at Nike more than three decades ago.
According to Business Insider, Nike is pulling him out of retirement to lead their brand through a challenging time in its history, reported Business Insider.
Mr Hill’s ascent at Nike is likely what people have in mind when they speak about climbing the corporate ladder.
He began as an intern, and is now the head of the company.
Source: LinkedIn
“I started my career at NIKE as an intern in 1988, taking on 19 different roles within the organization before retiring in 2020 as President – Consumer and Marketplace,” wrote Mr Hill on LinkedIn.
In his capacity as an intern, he was an apparel sales representative for two years. By 1996, he held a management position and continued to climb the company’s leadership ranks.
Mr Hill is set to lead Nike as President and CEO in October 2024.
This new role is the beginning of a new challenge for Mr Hill as he seeks to save Nike from its current struggles.
According to Reuters, Nike struggled when it tried to switch to selling directly to consumers instead of boosting inventory with wholesalers.
This soured its relationship with the latter, Business Insider reported.
These struggles were made worse by product stagnation. An expert said because Nike has not invested as heavily in more innovative products, other more exciting brands are snatching up Nike’s market share.
Source: Nike
But many experts believe Mr Hill can turn the ship around because of his extensive experience with Nike.
“A veteran insider like Elliott Hill brings a lot of valuable firsthand experience that could be useful in addressing Nike’s current challenges, like rebuilding strained relationships with its retail partners,” one expert said.
His experience also means that he intimately knows the people working at Nike. That intimate knowledge of the people may be invaluable should Mr Hill seek internal restructuring.
One expert said, “[He’ll] know what is worth preserving.”
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Featured image adapted from Nike and Nike.
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