Nike career veteran Elliott Hill is tapped to reverse sales and revenue declines following recent changes to the business practices central to the company's past success.

Sept 20 (Reuters) - Nike's new CEO is expected to double down on the company's efforts to repair relations with retailers to energize sales, reversing a strategy under outgoing chief John Donahoe that focused on selling directly through its stores and website.

New Nike CEO Elliot Hill is inheriting “a turnaround that has yet to show momentum,” according to Stifel analyst Jim Duffy.

Nike’s stock soared after the news that Hill would replace current CEO John Donahoe, who will step down next month. Hill is a familiar face, spending basically his

Company veteran Elliott Hill will lead a turnaround effort at the global sportswear giant, where sales have faltered and innovation has stalled.

Nike Inc. has named Elliott Hill as its president and CEO effective, replacing John Donahoe, who will retire next month.