(CNBC) Donahoe, who has been Nike’s CEO since Jan. 2020, will retire from his position on Oct. 13. Hill is slated to take over on the following day. Donahoe will stay on as an advisor through the end of January. Shares climbed 8% in extended trading Thursday. As of the close, shares are down more than 25% this year.
Nike CEO John Donahoe is out, replaced by company veteran Elliott Hill
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