Nike capitalized on a demand for classic styles such as the Dunk and Air Jordan 1. Now, the company needs to innovate, an analyst said.Jay L. Clendenin/Los Angeles Times via Getty ImagesNike is naming Elliott Hill, a company veteran of more than 30 years, as its new CEO.In the past few years, Nike relied too much on recycling old styles, an analyst told BI.Hopefully, the new hire will help Nike re-focus on a culture of innovation, he said.Nike is bringing in an old face for a new CEO.The company announced on Thursday that its CEO of four years, John Donahoe, will retire and be replaced by Elliott Hill, a company veteran of more than 30 years.