Elliott Hill is officially assuming the mantle as Nike (NKE) CEO and president on Monday after the ousting of John Donahoe. Nike shares have fallen by 25% year-to-date in 2024. What can Hill bring to the table and turn things around for the sportswear giant?
Barclays Consumer Discretionary Analyst Adrienne Yih speaks with Seana Smith and Brad Smith on the Morning Brief to outline the brand objectives Hill should prioritize.
“The number one thing he does is honestly, it’s to build, rebuild morale. So all the things that are listed as the clinical turnaround things — clean up the inventory, get back into wholesale, innovate — we’ve all been talking about those for probably the past two years under the John Donahoe kind of leadership,” Yih explains. “So we know what those are. But the people who are going to do those three things are the entire organization… Rebuilding those partnerships with their wholesale channel.”
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This post was written by Luke Carberry Mogan.
