Sportswear retailer Nike has appointed its current President and CEO Mark Parker as the new Chairman, post the retirement of Phil Knight from the Board of Directors (BoD), with immediate effect. The company states that this move is the result of the planned transition initiated a year back.
Meanwhile, the Board has appointed Knight to the position of Chairman Emeritus, with a standing invitation to attend the brand’s board meetings and share his experience. “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. I could not be more pleased with the Board’s thoughtful execution of the succession plan, and I’m thrilled that an outstanding leader like Mark will head the Board,” Knight averred.
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The President and CEO, and now the Chairman of Nike, Mark said, “Phil’s impact on Nike is immeasurable and his entrepreneurial drive is and always will be part of our DNA,” adding, “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.”
In another development, Apple CEO Tim Cook has also been appointed as Nike’s Independent Director of the Board.
