Nike brought back a 32-year veteran to save the $60B brand. Two years later, its turnaround is still a ‘long, hard slog’

Following Nike's announcement in September 2024, Elliott Hill returned to replace John Donahoe as CEO, generating initial excitement and causing shares to rise on Wall Street. Although Hill has achieved some early progress, including wholesale growth, nearly two years later, the turnaround is viewed by experts as a 'long, hard slog.' Persistent overall weakness means that Nike's stock remains significantly below its previous peaks.