04:44 PM EDT, 09/19/2024 (MT Newswires) -- Nike ( NKE ) said Thursday Elliott Hill will rejoin the company as chief executive officer, effective Oct. 14.

John Donahoe will retire from the CEO role, effective Oct. 13, it said. He will remain as an advisor to the company to ensure a smooth transition through Jan. 31, 2025.

Hill was president, consumer and marketplace at Nike ( NKE ) before retiring in 2020, the company said.

Nike ( NKE ) shares were more than 9% higher in after-hours activity.

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