Nike CEO Parker replaces Knight as chairman

04 Jul '16
2 min read
Courtesy: Nike
Courtesy: Nike

Sports goods marketer Nike has named its president & CEO Mark Parker as the new chairman following the retirement of Phil Knight from the Nike board of directors, effective immediately.

According to Nike, this is the completion of the planned transition that was initiated a year ago.

“Phil's impact on Nike is immeasurable and his entrepreneurial drive is and always will be part of our DNA,” Mark Parker said.

“Along with Nike's exceptional management team, I am committed to leading our next era of innovation and growth as we serve and inspire athletes throughout the world,” Parker added.

The Nike board has appointed Phil Knight to the position of chairman emeritus, with a standing invitation to attend Nike board meetings as an observer and to lend his experience.

“I could not be more pleased with the board's thoughtful execution of the succession plan, and am thrilled that an outstanding leader like Mark will head the board,” Phil Knight also said.

“I intend to continue to work to promote the company's business in my new role for as long as I can contribute to Nike's success and long-term growth,” he informed.

Additionally, Tim Cook, CEO of Apple who has been a Nike director since 2005, has been appointed lead independent director of the board, effective immediately. (AR)

Fibre2fashion News Desk - India

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