Nike chief executive John Donahoe will retire next month in an abrupt leadership change punctuating a period of dour financial performance at the world’s largest sportswear maker.

Sportswear giant Nike has announced that its current president and chief executive officer, John Donahoe, has “decided he will retire from his role” as the

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.