Nike (NKE) CEO John Donahoe is stepping down, to be succeeded by Elliott Hill as chief executive and president of the athletic apparel company. Hill will also be joining Nike's board of directors and executive committee.

Yahoo Finance executive editor Brian Sozzi joins Julie Hyman and Josh Lipton in breaking this news and evaluating Donahoe's leadership at Nike and what Hill can offer as the new chief executive.

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This post was written by Luke Carberry Mogan.