It looks like a series of missteps have resulted in Nike CEO John Donahoe stepping down from the nation's largest sportswear company, NIKE Inc. The company made the head-turning announcement Thursday,

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.

Elliott Hill, an executive who left the company after Donahoe’s appointment in 2020, will return as chief executive, Nike’s board said.