No time to read? Just listen to the news!
TL;DR
- Nike’s new CEO, Elliott Hill, started as an intern and worked his way up over 32 years, a rare career trajectory in the corporate world.
- Staying in one firm for an entire career can limit opportunities for career advancement, salary increases, and exposure to new ideas, according to Professor Thomas Roulet.
- Companies often prefer external candidates for CEO positions, as they are seen as drivers of change who can revolutionize the business.
- Climbing the corporate ladder within a single organization is especially challenging for disadvantaged groups, as leadership archetypes tend to be reproduced, making it difficult for women, people of color, and others to follow the same path.
Nike has announced that Elliott Hill, a longtime company veteran who began his career as an intern, will return to the company as its new CEO, succeeding John Donahoe. Hill’s remarkable journey from intern to the top executive position spans over three decades, during which he held various leadership roles and contributed significantly to Nike’s growth.
According to his LinkedIn profile, Hill started his career at Nike in 1988 as an apparel sales representative intern. Over the course of 32 years, he rotated through several positions before retiring in 2020. In a statement, Hill expressed his deep connection to the company, saying, “Nike has always been a core part of who I am.”
While Hill’s career trajectory is undoubtedly impressive, it remains a relatively rare occurrence in the corporate world. There are a few notable examples, such as Ursula Burns, who began as a mechanical engineering summer intern at Xerox in 1980 and eventually became the first Black woman to head a Fortune 500 company when she was named CEO in July 2009.
However, Thomas Roulet, professor of organizational sociology and leadership at the University of Cambridge’s Judge Business School, advises against staying in the same firm for an entire career. “In general, you need to accept that if you stay in the same organization, the rate of opportunities and career advancement you are going to get will be lower than what you get if you go elsewhere,” he explained.
Roulet noted that companies often prefer external candidates for CEO positions, as they are perceived as drivers of change who can revolutionize the business. Moreover, moving between different jobs can increase an individual’s salary, future prospects, and professional network, while also providing exposure to new ideas from competitors.
The professor also highlighted the challenges faced by individuals from disadvantaged backgrounds when attempting to climb the corporate ladder within a single organization. “Archetypes tend to be reproduced in leadership,” Roulet said, suggesting that people with similar profiles to previous CEOs are more likely to be elevated, making it more difficult for women, people of color, and other underrepresented groups to follow the same trajectory.
While Hill’s appointment as Nike’s CEO is a testament to his dedication and contributions to the company, it also raises questions about the potential for innovation and diversity in leadership. As the business world continues to evolve, it remains to be seen whether the traditional path of long-term company loyalty will continue to be a viable route to the top.
News Source: Business Insider
