On June 27th, Nike chief executive John Donahoe presided over one of the bleakest earnings calls in the history of the sportswear maker. Not only was the company still trying to find its level between online and brick-and-mortar sales, he said, but consumer demand for the brand’s trainers and athletic apparel was slowing.

Nike’s stock soared after the news that Hill would replace current CEO John Donahoe, who will step down next month. Hill is a familiar face, spending basically his

In hiring Hill, Nike signaled its intent to bring the company back to its glory days—a feat Barron’s believes it can do. We recommended the stock earlier this summer, and have reiterated our belief that it’s just a matter of time before the shares regain their edge.

In his first message to employees, Nike's new CEO, Elliot Hill, acknowledged that the company faces challenging times.

Shares in Nike (NKE) surged after the sneaker company said it was getting a new chief executive. John Donahoe will retire as CEO next month after nearly five years at the helm, Nike said late Thursday.

Nike announced plans to toss out its president and CEO John Donahoe, as demand falters for the brand's sneakers.He'll be replaced by former senior executive Elliott Hill, who will take over next month.

Nike’s beleaguered stock was rising sharply after the company announced that its CEO would retire.The athletic shoe and apparel maker has been hurt in recent years from a slowdown in China and competition from upstarts like Deckers Outdoor’s Hoka brand and On Holding.