Why Nike’s CEO bought $2 million worth of shares at a low point for the company

CEO InterviewsWhy Nike’s CEO bought $2 million worth of shares at a low point for the company“We’re in a cleanup mode and we’re [in] resetting mode, getting our foundation set,” CEO Elliott Hill said.Listen to this article with a free account00:0000:00FORSUBSCRIBERSGet more newsLiveonShareAdd NBC News to GoogleMay 11, 2026, 9:13 AM EDTBy Steve Kopack and Craig MelvinNike is in “cleanup mode,” but its chief executive officer has nothing but confidence in the iconic American company.Subscribe to read this story ad-free Get unlimited access to ad-free articles and exclusive content.CEO Elliott Hill spoke to NBC News in an exclusive interview last week at the company’s Beaverton, Oregon headquarters, where he said his faith in the company’s turnaround led him to purchase more than $2 million worth of the firm’s shares on April 13. That date is also when Nike shares hit their lowest point since late 2014.Nike has faced a yearslong sales slump as it tries to regain its market dominance. Good sales results in its North American home market have often come in the shadow of weakness in the European, Middle Eastern and Chinese markets. Nike’s recent results appear to show the turnaround taking longer than expected.“I think it’s a reflection on where we are in this moment in time,” Hill said. The interview was the first installment in NBC’s new series, “Business in America,” which launched Monday. “We’re in a cleanup mode and we’re [in] resetting mode, getting our foundation set,” he said. Hill and his executive team are “setting this business up for the next 40 years,” he added.For Hill, who took over as CEO in October 2024, it took time to adjust to the scrutiny that comes with being a high-profile chief executive.“It’s been a bit of adjustment for me, having to learn to do these types of interviews, to be visible, to have media, fans, Wall Street watching your every move and critiquing it,” he said.While Nike’s stock price has risen about 4.5% since its low in April, shares...