Nike Inc. is undergoing a management reshuffle led by its new CEO, Elliott Hill, who assumed the position on October 14. The restructuring includes significant changes in the company's legal, sports marketing, and supply chain teams as part of Hill's efforts to rejuvenate the brand in the face of ongoing challenges.
The sneaker giant has experienced a difficult year, with its shares falling by almost 30% to date. Hill's appointment as CEO is a crucial moment for Nike as it strives to overcome these obstacles and regain its position in the competitive market.