US Stock Market Move | Announces new CEO, Nike, Inc. Class B (NKE.US) rises over 5%

On Friday, the stock price of NIKE, Inc. Class B (NKE.US) rose, closing at a more than 5% increase to $85.49 per share. This came after the company announced a new CEO. Current CEO John Donahoe will step down on October 13th and serve as a consultant to the company until January 31st. He will be succeeded by former NIKE, Inc. Class B executive Elliott Hill. Analysts believe that the change in CEO is a step in the right direction for NIKE, Inc. Class B, but the potential turnaround is still a long and uncertain process. They believe that Hill's decades of experience at NIKE, Inc. Class B and his reputation within the company and industry could inject meaningful energy into the brand's products and marketing.