Nike has officially announced that Elliott Hill will become the President and Chief Executive Officer (CEO) of the global sports brand, effective October 14, 2024. Hill’s remarkable journey with Nike began in 1988 as an intern, and over the past 32 years, he has held various leadership positions, ultimately shaping the company’s strategic direction.
In his statement, Hill emphasized his strong connection to Nike, stating, “Nike has always been a core part of who I am, and I’m ready to help lead it to an even brighter future.” He expressed gratitude for the opportunity to work with top talent in the industry, contributing to the company’s evolution into a “magical place.”
Hill’s path from intern to CEO is particularly inspiring. After lobbying for six months, he secured the internship as an “Apparel Sales Representative” right after graduating from Ohio University’s sports marketing program. Initially, he felt pressure as his classmates found jobs while he was still searching. Hill’s work ethic, honed as the son of a single mother in a Texas working-class neighborhood, propelled him through the ranks. By 1998, he became the Director of the Team Sports Division, and over the years, he held several Vice President roles, ultimately serving as President of Consumer & Marketplace before retiring in 2020.
To incentivize his return, Nike is reportedly offering Hill a compensation package valued at $27 million. This includes $7 million in equity and cash awards to compensate for earnings he forfeited by rejoining the company, along with potential cash and stock awards of up to $20 million. Additionally, he will receive a long-term equity incentive worth $15.5 million linked to performance targets and a substantial cash bonus, underscoring Nike’s commitment to Hill’s leadership as it navigates future challenges.