"Hill, a Nike veteran, is coming out of retirement to replace CEO John Donahoe, who is retiring after Nike's robust growth disappeared. Mark Parker... called Hill the 'right person to lead Nike's next stage of growth'."
"Hill will face the challenge of adapting to significant changes in the market, including heightened competition, and most critically, shifts in product innovation," said Randal Konik, an analyst at Jefferies.
"Nike has rarely experienced a time like this... but in June, it said annual revenue would decline, leading to biggest stock drop in its history," highlighting the company’s recent struggles.
"Following the announcement on Thursday, some celebrations broke out on Nike's campus as staff high-fived and hugged each other... a mocked-up meme of Hill's portrait as Barack Obama's 'Hope' poster has been circulating around the Nike community..."
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