Our time is short, shorter than we ever know, short as a morning run, and I wanted mine to be meaningful,' Nike founder Phil Knight wrote in his memoir.

SportsPro breaks down what led to Nike chief executive John Donahoe's departure and what comes next for the sportswear giant.

Let's see how this could play out. Nike's been under pressure for a while, but it got much worse in fiscal 2024 (ended May 31). Fourth-quarter sales were down 2% year over year, and Nike Direct sales dropped 7%.

Key Takeaways Incoming Nike CEO Elliott Hill will face a number of challenges, including concerns about the "newness" of Nike's products, rising competition and persistent headwinds in China.Analysts say next week's quarterly earnings release and Nike's investor day,

Nike (NYSE: NKE) just announced that its current CEO has retired, and it’s bringing in a long-time employee to take the helm. Elliott Hill will become Nike's CEO on Oct. 14. He hopes to be the new face the company needs to turn its fortunes around.