Elliott Hill Takes Helm as Nike CEO Amid Declining Sales and Mounting Market Competition

Elliott Hill, a 35-year Nike veteran, will assume the role of CEO next month as the sportswear giant faces declining sales and rising competition. Known for his deep-rooted connections with key athletes and a bootstraps mentality, Hill is expected to bring fresh energy to Nike's leadership.

Hill’s Journey from Intern to CEO Highlights Hard Work and Grit as He Prepares to Lead Nike

In 1988, he began as an intern. Still, he gradually advanced through the organization, relying on the values of hard work and grit instilled in him as the son of a single mother in a working-class Texas neighborhood.

When Hill assumes the role of CEO of the global footwear and sportswear brand next month, these attributes may prove advantageous, potentially revitalizing the organization to which he has dedicated his entire professional life.

Hill was appointed Nike's next CEO on October 14, succeeding the retiring John Donahoe. This announcement was made on September 19.

In recent months, its sales have plummeted due to the expansion of market share by more innovative and agile brands, including On and Deckers' Hoka. Nike is engaged in a three-year initiative to reduce costs by $2 billion.

In contrast to Donahoe, who was an outsider brought in in 2020 after serving as the CEO of eBay, Bain Capital, and the cloud company ServiceNow, Hill is a true Niker. 1988, he enrolled in the organization after graduating from Ohio University's graduate program. He lobbied a company representative who had delivered a presentation at his sports marketing course.

"I bothered him for six months until he finally hired me," Hill said on the FORTitude podcast in December. "I told him ‘everybody in my class has a job except me.’"

The roots of his blue-collar credentials extend beyond that. Hill's father abandoned the family when he was three years old, and he was born in Austin in 1963. In the podcast, he stated that his mother exhibited an "unbelievable example in terms of commitment and work ethic." Sports, he added, became a crucial part of his childhood.

He served in various capacities within Nike, including sales positions in the Dallas office. He recounted his early years selling shoes to mom-and-pop retailers, stating, "I drove an old Chrysler minivan for two years, covering 60,000 miles annually."

Hill assumed the President of Consumer & Marketplace position in 2018, following a series of other positions at Nike, such as serving as its vice president of global retail and directing the company's team sports division. He retired in 2020.

Hill recalls a period in which Nike was the embodiment of innovation. 1988, he was present when the organization unveiled its iconic "Just do it" advertisement. On FORTitude, a podcast showcasing individuals such as Hill, who resided and worked in Dallas-Fort Worth, he stated that employees viewing the internal presentation burst into applause. "If you can inspire people inside of your company, you know you're going to inspire people outside the company," said the executive.

Hill did not respond to an email from Reuters requesting a comment. However, Nike asserted that Hill was highly esteemed within the organization and anticipates that its personnel will receive his employment well.

Hill’s Leadership in Nike’s ‘Dream Crazy’ Campaign and Global Jordan Expansion Signals Hope for Brand Revitalization

Elliott Hill, a Texas Christian University graduate, played a pivotal role in leading Nike's 2018 "Dream Crazy" campaign, narrated by NFL quarterback Colin Kaepernick. During his tenure at Nike, Hill built strong relationships with critical athletes, including Michael Jordan. When Hill sought to expand the Jordan brand globally, Jordan expressed initial hesitation. In a memorable moment, the basketball legend jokingly told Hill he would leave one of his size-13 shoes on Hill’s desk, saying if the move led to a revenue decline, "I'm going to come and stuff that up your rear." Hill recalled this exchange with humor, explaining that while the comment was in jest, Jordan’s underlying message of trust and risk-taking was clear.

Hill and his wife, Gina, also established a scholarship at Central Catholic High School in Portland, Oregon, where their children attended. Hill auctioned off his extensive sports memorabilia collection to fund the scholarship he had accumulated over three decades at Nike. Portland-based vintage clothing store Laundry, known for selling vintage sports apparel, partnered with Hill for the 2022 auction. Chris Yen, Laundry’s owner, told Reuters that he initially had no idea who Hill was when he received a cold call from him. Hill explained that he had learned of the store through his son and wanted to collaborate on the auction. The event raised $2.1 million through memorabilia sales and private donations.

Yen praised Hill, stating he was "the best possible person for the job" to help Nike regain its competitive edge. Wall Street analysts also hope Hill can revitalize the Nike brand, which has faced challenges recently. Brian Nagel, an analyst at Oppenheimer, noted that product innovation at Nike has been lacking and that management has been reluctant to restore partnerships with key retailers. Jessica Ramirez, an analyst at Jane Hali and Associates, was more blunt, stating that "the culture has fallen apart" at Nike. Many are optimistic that Hill can bring fresh energy and excitement to the iconic sportswear company.