Nike chief executive John Donahoe to step down

In an abrupt leadership change, Nike chief executive John Donahoe will retire next month, with Nike veteran Elliott Hill returning to take over on October 14. Donahoe, who took the role in 2020, faced challenges as Nike’s financial performance declined, leading to a dramatic stock sell-off. Hill, with 32 years of experience at Nike, is seen as the right person to lead the company forward and address the issues it faces in the market.

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