Many lessons remain from the new chapter opening at the top management of Nike, one of the world's most recognized sportswear and footwear brands.

Eliot Hill, a retired senior executive who worked at the firm for more than 30 years before deciding to retire, will take over the reins of the business as of October 14.

It's about the return of the Jedi, as told by many workers to different media that have recorded the news: Hill knows a lot about the industry and the company and is deeply admired and respected in the organization.

The board of directors announced the movement last week and disclosed the transition with the current CEO, John Donahoe, who will continue as an advisor to the board until January of next year.

In a very comprehensive report written by Mark Wilson, The Fast Company reports that Hill was tapped to take the reins of the company in 2020 when then-CEO Mark Parker stepped aside and became chairman of the board.

However, he was not considered and Hill along with other members of the company's C-level, decided to retire from the firm.

As reported by the company, “Throughout the course of his career at Nike, Hill held senior leadership positions across Europe and North America and was responsible for helping grow the business to more than $39 billion. Before retiring in 2020, he was President - Consumer and Marketplace leading all commercial and marketing operations for Nike and Jordan Brand, including the P&L across the company’s four geographies. He retired from Nike in 2020. Hill is a graduate of Texas Christian University (TCU) and Ohio University and currently serves on the Board of Trustees for TCU.”

The leadership lessons from this process are several. First, a person's history within a company may prove to be the most important asset. The knowledge gained from experience in different markets and managing operations are the most useful things Hill has to offer right now. Many did not understand why he was not considered in 2020.

The other aspect is that no one knows what the ideal retirement age is. Hill is "just" 61 years old and all indications are that he has a lot to offer to a company that wants to continue to grow in sales every year. How long will Hill's second cycle at the company last? Maybe not another 30 years, but at least 10, 15 or even 20.

The third lesson is that despite disagreements between parties, it is possible to make amends, forgive, and move on. There is no room for resentment in business.

Hill will continue his successful career at Nike, which despite good results has challenges to face such as rising costs, logistical problems, and strong competition from other leading brands in key segments such as footwear, which accounts for most of Nike's revenues: footwear represents more than US$33 billion in revenues last year, or 63% of the total billing.

This concentration may also be an 'Achilles' heel' for the company. Hill has a lot of work to do and everything is in place for him to take back the reins of what was his home for more than 30 years.