Texas Christian University graduate and current board of trustees member Elliott Hill has been named president and CEO of Nike Inc., the company announced Sept. 19. 

The Beaverton, Oregon-based athletic sportswear, apparel and equipment manufacturer said Hill will step into the new roles Oct. 14. He will also become a director of the Nike board of directors and a member of the executive committee. 

Hill has been a longtime Nike executive, beginning as a sales intern in 1988 and working his way up to take several senior leadership positions across Europe and North America. Before his retirement in 2020, he was president of consumer and marketplace, leading commercial and marketing operations for Nike and Jordan brands. 

John Donahoe, currently president and CEO, will retire from Nike, but will remain as an adviser to the company through the end of January. 

“Nike has always been a core part of who I am, and I’m ready to help lead it to an even brighter future,” Hill said in a statement. “For 32 years, I’ve had the privilege of working with the best in the industry, helping to shape our company into the magical place it is today.” 

Nike has seen declining sales as of late, and the news of a change at the top was met with approval from shareholders. In after-hours trading following the announcement, Nike stock jumped 9% after falling 24% so far this year, according to CNN. Among other issues, Nike has faced criticism for alienating wholesale and retail partners by moving to a sales model more focused on direct sales to consumers. 

“Given our needs for the future, the past performance of the business, and after conducting a thoughtful succession process, the board concluded it was clear Elliott’s global expertise, leadership style and deep understanding of our industry and partners, paired with his passion for sport, our brands, products, consumers, athletes and employees, make him the right person to lead Nike’s next stage of growth,” said Mark Parker, executive chairman of Nike. 

Hill graduated from TCU in 1986 with a bachelor’s degree in kinesiology and earned a master’s in sports administration from Ohio State University in 1988. He worked as an athletic trainer for the Dallas Cowboys for a year before joining Nike. He has been a member of TCU’s board of trustees since 2014.

“It’s rare to find a leader who can at once be bold and decisive as well as thoughtful and generous,” TCU Chancellor Victor Boschini said in a statement. “As an alum, he has given back to students and invested time and resources to their success. As a board leader, he brings strategic and mission-oriented solutions to every interaction.”

Bob Francis is business editor for the Fort Worth Report. Contact him at bob.francis@fortworthreport.org. At the Fort Worth Report, news decisions are made independently of our board members and financial supporters. Read more about our editorial independence policy here.