Elliott Hill takes over as Nike CEO amid 25% drop in shares

Elliott Hill officially became Nike's CEO on Monday, following the departure of John Donahoe. Nike's shares have dropped 25% in 2024, prompting questions about Hill's plans to improve the company's performance. Analysts suggest Hill should focus on rebuilding employee morale and addressing key issues like inventory management and wholesale partnerships. These areas have been discussed for two years but remain unresolved. Hill, a 31-year veteran at Nike, is expected to implement changes quickly. Analysts believe he can make immediate decisions to stop ineffective practices while developing a longer-term strategy over the next year.