Elliott Hill started at Nike as an intern in 1988 but steadily scaled its ranks, banking on values of grit and hard work ingrained in him as the son of a single mom in a working class Texas neighborhood.

Nike is naming Elliott Hill, a company veteran of more than 30 years, as its new CEO.In the past few years, Nike relied too much on recycling old styles, an analyst told BI.Hopefully, the new hire will help Nike re-focus on a culture of innovation,

Nike said John Donahoe will retire as chief executive and from the board. Elliott Hill, who retired from the sneaker maker in 2020, will succeed him.