John Donahoe Resigns as Nike CEO

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Nike's Next CEO Has One Hell of a Challenge Ahead

Summary

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79% Informative

John Donahoe has stepped down as CEO of Nike .

His departure comes on the heels of mounting criticism over Nike ’s digital transformation strategy.

Elliott Hill , who joined Nike as an intern in 1988 , has been named as the new CEO.

The company's market capitalization plummeted by $28 billion following a dismal earnings report on June 28 .

In 2020 , Nike , Adidas , Puma , Under Armour , and Vans collectively held 80 percent of the global sportswear market.

By 2023 , challenger brands will continue to outperform the incumbents, projecting a growth rate of 11 percent per year through 2026 , versus just 5 percent for Nike .

Former marketing executive Massimo Giunco publicly criticized John Donahoe’s leadership in a 3,000 -word LinkedIn post.

He said the CEO's data-driven, tech-centric approach had eroded much of the brand's cultural equity.

Building an iconic brand requires more than analytics, says Michael Harkin .

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