Athletic footwear and apparel group Nike is to change chief executive. The company said on September 19 that John Donahoe will step down from the role on October 13 and will be replaced by Elliott Hill.

Mr Donahoe, a former chief executive of eBay and of cloud technology companies, became chief executive of Nike at the start of 2020, taking over in the role from Mark Parker, who is still Nike’s executive chairman.

Earlier this year, Nike said it wanted to save up to $2 billion between now and 2027 and that job losses would be a part of this. It also said it wanted to increase its use of automation and simplify its product assortment. At the time, John Donahoe described this as “a company-wide journey to invest in our areas of greatest potential”.

Elliott Hill retired from Nike in 2020 after working at the company for more than 30 years. He served in a number of senior roles and was president of consumer and marketplace, leading all commercial and marketing operations.