John Donahoe

Donahoe will step into his new role at Stanford in September.

Hill, who will take over for John Donahoe, went from intern to chief executive officer.

Donahoe will be replaced by returning Nike veteran Elliott Hill.

CEO John Donahoe responded to erroneous reports about the future of Nike's business with Foot Locker, confirming that they will still work together.

During an investor call, Nike CEO John Donahoe gave a rare breakdown of how SNKRS Exclusive Access works including insight on the Off-White Dunk launch.

In an internal meeting Monday, he said Nike needs to rebuild trust and double down on anti-bot measures. Another exec detailed Ann Hebert's exit from Nike.

Here are five things you need to know about Nike's new CEO, John Donahoe. Learn more about the ex-eBay CEO here.