NIKE, Inc. and Phil Knight Complete Planned Chairman Succession
June 30 2016 - 04:30PM
Business Wire
Mark Parker, NIKE President and CEO, to Now
Also Serve as Chairman
Phil Knight appointed Chairman Emeritus
NIKE, Inc. (NYSE:NKE) today announced that NIKE Chairman Phil
Knight has retired from the Board of Directors and the Board has
appointed Mark Parker, NIKE’s President and CEO since 2006, to the
additional position of Chairman, effective immediately. This is the
completion of the planned transition that was initiated a year
ago.
“Phil’s impact on NIKE is immeasurable,” said Parker. “His
entrepreneurial drive is and always will be part of our DNA. 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.”*
The Board has also appointed Knight to the position of Chairman
Emeritus, with a standing invitation to attend NIKE Board meetings
as an observer and to lend his experience and time to further the
growth of NIKE’s business.
“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,” said Knight. “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.”*
The Company also announced today that Tim Cook, CEO of Apple,
has been appointed lead independent director of the Board,
effective immediately. Cook has been a NIKE director since 2005, is
chair of the Board’s Compensation Committee and serves as a member
of the Nominating & Corporate Governance Committee.
Knight today announced that he has sold his voting interests in
Swoosh, LLC, the company he formed over a year ago to hold the
majority of his shares of NIKE Class A Common Stock, to a trust
controlled by his son and NIKE director, Travis Knight. After the
sale of Swoosh voting interests, Travis controls two of the five
votes on the Swoosh Board, with the remaining three votes exercised
by NIKE directors Mark Parker, Alan Graf, Jr., and John
Donahoe.
About NIKE, Inc.
NIKE, Inc., based near Beaverton, Oregon, is the world’s
leading designer, marketer and distributor of authentic athletic
footwear, apparel, equipment and accessories for a wide variety of
sports and fitness activities. Wholly owned NIKE,
Inc. subsidiary brands include Converse, which designs,
markets and distributes athletic lifestyle footwear, apparel and
accessories; and Hurley, which designs, markets and
distributes surf and youth lifestyle footwear, apparel and
accessories. For more information, NIKE’s earnings releases and
other financial information are available
at http://investors.nike.com. Individuals can also visit
http://news.nike.com/ and follow @Nike.
* The marked paragraphs contain forward-looking statements that
involve risks and uncertainties that could cause actual results to
differ materially. These risks and uncertainties are detailed from
time to time in reports filed by NIKE with the S.E.C., including
Forms 8-K, 10-Q, and 10-K.
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NIKE, Inc.Investor Contact:Nitesh
Sharan, 503-532-2828orMedia
Contact:Kellie Leonard, 503-671-6171
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