Nike CEO John Donahoe is out, replaced by company veteran Elliott Hill

Nike CEO John Donahoe is retiring from his position and company veteran Elliott Hill is returning to take the top job.

Shares climbed 8% in extended trading Thursday. As of the close, shares are down more than 25% this year."I am excited to welcome Elliott back to NIKE.

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Nike CEO John Donahoe is out, replaced by longtime company veteran Elliott HillNike CEO John Donahoe is retiring from his position and longtime company veteran Elliott Hill is returning to take the top job. Donahoe is slated to step down…
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