Nike’s New CEO: It’s All About the Athlete

Nike is getting back to basics.

Just redo it. In the first earnings report as CEO, Elliott Hill said the iconic brand’s return to greatness will be through sport.

“We lost our obsession with sport. Moving forward, we will lead with sport and put the athlete at the center of every decision.” 

Turnaround. Nike’s stock declined ~29% this year, shedding $50B in market cap as competitors like On and HOKA gained ground.

Identifying missteps, Hill said the company over-indexed on lifestyle sneakers, performance marketing, and direct sales. Retooling, his turnaround hinges on sport-first innovation, brand storytelling, and marketplace integration.

Uphill climb. Accepting the challenge, Hill expects near-term setbacks but said his “singular focus” is to “get back to winning.”

A long way to go, Q2 ‘25 sales were down 8% YoY to $12.4B.

Looking ahead: After losing its way, Hill is reaffirming Nike’s mission to “bring inspiration and innovation to every athlete* in the world” – emphasizing the footnote that everyone’s an athlete.