Nike is undergoing a significant leadership change as John Donahoe steps down from his role as CEO, a decision prompted by the company's struggling sales performance. Elliott Hill, a long-time veteran of the organization, has been appointed to succeed Donahoe, effective October 14. This move comes as the sportswear giant faces various challenges, leading to a shakeup in its executive structure. Hill's return has been positively received by the market, with Nike's shares rallying by as much as 9% following the announcement. Industry experts believe that Hill's extensive experience at Nike may be crucial in navigating the current difficulties faced by the company.