Elliot Hill first joined Nike as an intern in 1988 and steadily rose through the ranks, holding various leadership roles before retiring in 2020 as President of Consumer and Marketplace.

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.

Nike has only had four chief executive offers. Elliott Hill will soon become the athletic giant's fifth. Hill, a company veteran of 32 years, was announced Thursday as the successor of John Donahoe, who has retired from his role as Nike Inc.