Nike appoints Elliott Hill as new CEO to drive innovation and reset expectations

Nike has appointed Elliott Hill as its new CEO and president, effective Monday. Analysts believe his leadership could improve employee morale and drive innovation in the company's product development. Analyst Adrienne Yih suggests that Hill may need to remove current financial guidance to reassess Nike's strategy. This approach would allow the company to focus on long-term research and development goals. Yih notes that Nike has significant resources for innovation, but it may take time to see results. She anticipates that expectations for the company may need to be reset as Hill defines his strategy.