Elliott Hill on turnaround strategy
From Nike CEO addresses TURNAROUND STRATEGY, touts big sports partnerships · · Fox Business
“Let's focus on product and innovation. That's true in a consumer product committee. Storytelling and marketing and some cleanup in inventory in the marketplace so I feel good about the work the team has done but like everything what happens next is revenue, market share and share price follow. It is a sequential improvement and I feel better about the foundation of business.”
On , Elliott Hill, Chief Executive Officer, President & Director at Nike, Inc., spoke about turnaround strategy during Nike CEO addresses TURNAROUND STRATEGY, touts big sports partnerships on Fox Business.
About Elliott Hill
Elliott Hill, who returned to Nike as CEO in October 2024 after retiring in 2020, has described the company as being in "reset mode" and "cleanup mode" with a focus on long-term growth. In interviews, Hill stated that Nike is "not managing the business for this quarter or next quarter but for the long term" and said the company is "setting this business up for the next 40 years." He acknowledged that the company made mistakes by becoming "more lifestyle oriented" and said he is challenging the team to refocus on sport. Hill also noted that Nike has seen its running business return to growth in China, and said the company is focused on product, innovation, storytelling, and cleaning up inventory. In a separate appearance, Hill said tariffs cost Nike about $1.5 billion in the fiscal year, adding that the money "went straight to the government" and that the company is "waiting to see what happens in terms of return." He stated Nike was "cautious and thoughtful" about price increases and did not take any on back-to-school items. Hill said his biggest recent decision was "saying yes to being the CEO," which he described as an "incredibly fast-paced 18 months" that is "full of pressure." He also affirmed Nike's commitment to sustainability, stating the company is "not backing off" from that goal despite operating margin pressure.