Nike CEO Elliott Hill defends turnaround strategy amid stock decline

Nike CEO Elliott Hill is defending the company’s long-term turnaround strategy following a significant decline in stock value. The company is set to be removed from the S&P 100 Index on September 21, 2026, due to its reduced market capitalization. During the company’s annual meeting, Hill emphasized that Nike is building for the next decade rather than managing quarter-to-quarter, focusing on innovation, marketing, and returning the athlete to the center of the brand.

Despite Nike’s specific challenges, UBS analysts maintain a bullish outlook on the broader running footwear category. Analyst Jay Sole suggests Nike’s struggles are company-specific and not indicative of industry weakness. Data shows running footwear sales in the U.S. grew 13 percent in the first half of 2026, significantly outpacing the general footwear market. Other brands, including Asics, On, and Hoka, have reported strong growth, supported by global trends in health and wellness.