Nike has said that former senior executive Elliott Hill will rejoin the company to succeed John Donahoe as president and CEO, as the sportswear giant shakes up its leadership amid efforts to revive sales and battle rising competition.

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.

Mr Hill is a graduate of Texas Christian University (TCU) and Ohio University, currently serving on TCU's Board of Trustees. His journey at Nike began as an intern in 1988, and over the years, he has navigated through 19 different roles, culminating in his retirement in 2020 as President of Consumer and Marketplace.

Elliott Hill started at Nike as an intern in 1988 but steadily scaled its ranks, banking on values of grit and hard work ingrained in him as the son of a single mom in a working class Texas neighborhood.

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

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.

Nike on Thursday announced it would replace CEO John Donahoe with his former colleague, Elliott Hill, sending the stock soaring on the news. Hill, 60, is returning to Nike four years after retiring from the sneaker giant.