Nike Inc. spent nearly $104 million on pay and benefits for John Donahoe during his near five-year tenure atop the sneaker-maker, before replacing the former Bain & Co. executive in a bid to revive the brand.

Nike said on Thursday that former senior executive Elliott Hill will rejoin the company to succeed John Donahoe as president and CEO, as the sportswear giant shakes up its leadership amid efforts to revive sales and battle rising competition.

I’m Conway Gittens reporting from the New York Stock Exchange. Here’s what we’re watching on TheStreet today. Wall Street is focused on corporate news. FedEx posted disappointing quarterly profits thanks to a drop in demand for its fastest shipping options.