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Elliott Hill, the newly named chief executive officer of Nike Inc., acknowledged that things have been rough for the world’s largest sportswear brand in his first message to staff on Thursday.

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On IPO day Nike stock price closed at $0.18 on the first day of trade. Nike stock price first reached the $1 mark on September 21st, 1989. Nike began paying a quarterly cash dividend in 1984.

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NEW YORK - Mr Elliott Hill, the newly named chief executive of Nike, acknowledged that things have been rough for the world’s largest sportswear brand in his first message to staff on Sept 19.