Elliot Hill set to become new Nike CEO, had waited for 6 months to become an intern in 1988

'Nike has always been a core part of who I am, and I’m ready to help lead it to an even brighter future,' Eliiot Hill said.

Nike has announced Elliott Hill’s return as CEO, set to take effect on 14 October 2024, replacing John Donahoe in a significant leadership transition for the global sportswear giant. Hill, a seasoned Nike executive with a 32-year career, is expected to lead efforts to revitalise the company’s brand and address declining sales amid mounting competition from emerging brands like On and Deckers’ Hoka.

Hill first joined Nike as an intern in 1988 and steadily rose through the ranks, holding various leadership roles before retiring in 2020 as President of Consumer and Marketplace. His LinkedIn profile, showing his career trajectory at Nike, also went viral.

He was instrumental in driving Nike’s commercial strategies, overseeing some of its largest brands, including the iconic Jordan line, and contributing to the company’s growth to over $39 billion in annual revenue.

Commenting on his return, Hill stated, “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.” He also expressed eagerness to reconnect with past colleagues and build new relationships to move the company forward.

Hill's rise from intern to CEO is notable, particularly given his persistence early in his career. After graduating from Ohio University, he lobbied for six months to secure his first role at Nike. Reflecting on this during an interview on the FORTitude podcast, Hill said, “I bothered [the company rep] for six months until he finally hired me. I told him, ‘everybody in my class has a job except me.’” This determination paid off, as he moved from intern to Director of Team Sports in 1998 and continued climbing the corporate ladder, eventually retiring as a top executive.

According to Fortune, Hill was offered a $27 million package, which includes $7 million in equity and cash awards to compensate for earnings forfeited during his absence. He is also eligible for up to $20 million in additional stock and cash awards, contingent on meeting performance targets.

(With inputs from Reuters)