Phil Knight (76), Nike Chairman and co-founder plans to step down, and says he wants President and CEO Mark Parker to succeed him. Parker has been Nike’s president and CEO since 2006; he co-founded Nike and has been a director of the company since 1968. Though, Nike Inc expects to name a new chairman in 2016, no specific date was set for Knight’s departure.
“For me, Nike has always been more than just a company – it has been my life’s passion. Over the years, I’ve 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. Today, we have taken a number of important steps that will continue to promote Nike’s long-term growth,” Knight said. He will transfer most of his Nike stocks to a limited liability company. Knight is currently listed as the 35th richest person in the world and 21st richest person in the US by Forbes.
