Elliott Hill, an executive who left the company after Donahoe’s appointment in 2020, will return as chief executive, Nike’s board said.

Nike Inc. ousted beleaguered Chief Executive Officer John Donahoe, bringing longtime executive Elliott Hill out of retirement in a bid to return the struggling athletic brand to its glory days.Hill, 60,

Nike on Thursday named a company veteran, Elliott Hill, to be its next CEO, an announcement that immediately boosted the company’s flagging stock price and elicited cheers from insiders. Hill, 60, will succeed embattled CEO John Donahoe on Oct.