New Nike CEO Is About to See the Extent of Issues He Has to Fix.

Nike Inc.'s new CEO, Elliott Hill, is facing significant challenges as he takes over the company. Nike is expected to report a 10% decline in sales, and its stock has been down 19%. However, many investors are looking past these numbers and focusing on Hill's strategy for the future. Hill, a Nike veteran, is replacing John Donahoe, who oversaw the company during a tumultuous year. Donahoe's focus on e-commerce led to a reduction in the flow of sneakers to retail partners, which created opportunities for competitors. Hill will need to rebuild relationships with retailers, regain the trust of staff, and accelerate innovation to bring new products to market. Nike's investor day is expected to be postponed to give Hill more time to develop a turnaround plan. [Extracted from the article]