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

Nike is in “cleanup mode,” but CEO Elliott Hill has confidence in the iconic American company, he told Craig Melvin for NBC’s “Business in America” series.

Nike is in “cleanup mode,” but its chief executive officer has nothing but confidence in the iconic American company.

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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.