Elliott Hill is coming off the bench - and is going to have to bring his A-game next month when he takes the lead as president and chief executive officer of Nike Inc. There was little surprise when the sports giant revealed late Thursday that "the board and John Donahoe have decided he will retire from his role" as president and CEO as of Oct.

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Hill, who left in 2020 after 30 years at the sportswear giant, returns to Nike to succeed Donahoe, who will remain an advisor until the end of January.