Home / Knowledge / News / Apparel/Garments / Nike looks for successor to chairman Phil Knight
Nike looks for successor to chairman Phil Knight
Jul '15
Sports goods and sportswear marketer Nike has initiated a planning process to look for a successor to chairman Phil Knight.

“Phil Knight has recommended Mark Parker, Nike’s president since 2006 to succeed him as chairman,” a Nike press release informed.

Additionally, the Company also named Travis Knight, who is president of animation studio Laika, LLC, which specialises in feature films as the newest member of Nike’s board of directors.

Phil Knight also announced transfer of ownership of his shares to a limited liability company, Swoosh, LLC.

“Over the years, I have spent a great deal of time considering how I might someday evolve my ownership and leadership of Nike in a way that benefits all of our stakeholders,” Knight said.

“We have now taken a number of important steps that will continue to promote Nike long-term growth,” he added.

Knight has set up Swoosh to hold the majority of his shares of Nike Class A Common Stock and will itself have a governance structure that is designed to make thoughtful and forward-looking decisions.

Knight believes this structure will maintain Nike’s strong corporate governance, which has focused its management on serving the consumer and pursuing profitable, long-term growth.

Knight has contributed 128,500,000 shares to the entity representing approximately 15 per cent of the combined total outstanding shares of NIKE Class A and Class B Common Stock.

He has also formed a board of directors of Swoosh to serve as its governing body, which will determine how the Class A shares are voted and managed going forward.

The Swoosh board will initially have four members, who exercise five votes and of the five votes, two will initially be held by Knight, and the other three will be held by Mark Parker, Alan Graf and John Donahoe , the last two being directors at Nike.

“In the future, Knight may choose to appoint an additional director and assign one or both of his votes to that director,” Nike added. (AR)

Fibre2Fashion News Desk - India

Must ReadView All

Textiles | On 22nd Jul 2017

Govt constitutes GST Feedback and Action Room

The Government of India has constituted a Feedback and Action Room...

Textiles | On 22nd Jul 2017

India’s cotton textile exports fell in FY17: Tamta

The overall export of cotton textiles from India declined in 2016-17...

Textiles | On 22nd Jul 2017

Stella McCartney, Bolt Threads partner for eco fashion

Fashion designer Stella McCartney has partnered with Bolt Threads for ...

Interviews View All

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Eric Scholler

The Indian market has huge potential in technical textiles, and by far,...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Sonam & Paras Modi

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category

Related Categories:

Planning to Take the Leap towards

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search