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's new CEO will likely focus on repairing relations with retailers to boost demand, a strategy that took a back seat under outgoing chief John Donahoe, industry experts said on Friday. The sportswear giant named company veteran Elliott Hill as its CEO on Thursday,

Nike Inc. ousted beleaguered Chief Executive Officer John Donahoe, bringing longtime executive Elliott Hill out of retirement in a bid to return the struggling athletic brand to its glory days.

The company looks to shake things up as demand for its trainers falters in international markets.

Elliott Hill will replace John Donahoe as chief executive next month, following months of struggles for the athletic-wear giant.

Nike has pulled longtime company veteran Elliott Hill out of retirement to serve as president and chief executive, replacing CEO John Donahoe.

Nike says Elliott Hill will replace John Donahoe as CEO in October. Nike has struggled to turn around its business over the last year.