👉 Background: Nike, is the OG sports footwear and clothing company that started in 1964 as Blue Ribbin Sport. It sells more than 800 million pairs of shoes each year. Despite its huge brand, Nike saw a massive opportunity in the online space and hired John Donahoe, a former eBay and Bain exec as CEO.

👉 What happened: But, Nike didn't see the results it was hoping for. In fact, while online sales grew, it has lost market share to Adidas, On, and Hoka over the past few years. So now, Nike has appointed a new CEO, Elliott Hill, who had worked at Nike for 32 years before retiring in 2020.

👉 What else: Hill is back like a retro Jordan drop...and Nike's share price has jumped over 7% on the news. Clearly, investors are backing the previous management strategy.

What's the key learning?

💡Sometimes the best move is bringing back a seasoned pro who knows the game inside out... like MJ returning to the Bulls.

💡Time and again, companies like Apple, Starbucks, and Disney have turned to former CEOs and key leaders to reignite growth:

• Steve Jobs at Apple brought the company back from the brink of bankruptcy in 1997
• Howard Schultz at Starbucks also re-juvenated the company
• And Bob Iger returned to Disney in 2022
  

💡The seasoned pros don't don't need a crash course on the businesses operations or culture. They have already built trust and know the terrain. So, with Elliott Hill jumping in to tackle Nike’s falling market share, investors are hoping for a comeback of the glory days.