And the market responds accordingly with Nike up 10% after hours.
My guess would be that internally they got word that the next earnings report will be a good one - in the very least pointing to a "recovery" and this was the catalyst to pull the trigger on that Bain & Co idiot Donahoe as now Hill comes in and immediately has a sweet earnings report to be the face of and father Phil and the market is happy again.
It is crazy to think how this works right - Donahoe comes in and his initiative wipes tens of billions of dollars from the brands value (including 28.4 in one day alone - June 28). Despite this he still walked away with 29.2 million in salary last year alone - and that was an 11% "paycut" from the year before. Outrageous compensation for basically doing an atrocious job and the worst part about this? Guys like him can never just walk away and enjoy these absurd sums of money - he will pop up somewhere else in 12-18 months time to suck the life out of someone else and that entity will be happy enough to continue writing him fat checks for the privilege.
The CEO club is simply a world that is incomprehensible on many levels. Must be nice.