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.

Nike, struggling from rising competition and its own strategy mistakes, is making a major shakeup. The athletic giant announced Thursday that CEO John Donahoe will retire next month and will be replaced by Elliott Hill, a veteran former Nike executive.

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

Sept 20 (Reuters) - 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 Inc. has named Elliott Hill as its president and CEO effective, replacing John Donahoe, who will retire next month.

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

In his first message to employees, Nike's new CEO, Elliot Hill, acknowledged that the company faces challenging times.

Nike Inc. destituyó al director ejecutivo John Donahoe, y trajo al ejecutivo Elliott Hill en un intento por devolver a la marca deportiva en crisis a sus días de gloria.