Nike stock jumps after hours on news that CEO John Donahoe is being replaced by company veteran Elliott Hill
Briefly

"Given our needs for the future, the past performance of the business, and after conducting a thoughtful succession process, the Board concluded it was clear Elliott's global expertise, leadership style, and deep understanding of our industry and partners, paired with his passion for sport, our brands, products, consumers, athletes, and employees, make him the right person to lead Nike's next stage of growth," Parker said.
"While Parker was a shoe designer by training and known for working directly with the design teams, Donahoe served as CEO of eBay and management consulting firm Bain & Company, where he spent 23 years. In his four years at Nike, he's proven to be more of a calculator than a creator," noted Mark Wilson.
Read at Fast Company
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