Nike’s shocking decision for picking the new CEO: Elliott Hill, a company veteran who retired in 2020, will step in on October 14. Investors are here for it, Nike’s stock jumped over 10% after the announcement.

Replacing CEO John Donahoe didn’t come out of nowhere rumors of a leadership change had been swirling for weeks. Analysts were pushing for fresh blood.

Donahoe, had a tough run with the brand losing ground to competitors. Under Donahoe’s leadership, Nike shifted hard into online sales, but the move didn’t fully pay off. Now, Hill’s mission is to bring back that iconic Nike energy and regain its market dominance. Time to watch if the swoosh makes its comeback!