Nike announced yesterday that Mark Parker will be stepping down from his role as President and CEO of the company. Board Member John Donahoe will replace him and Parker will retain an Executive Chairman position. This move will be effective as of January 13, 2020.
Mark Parker had this to say:
“This is an exciting time for Nike where we see brand strength and momentum throughout the world and great opportunity for future growth. I am delighted John will join our team. His expertise in digital commerce, technology, global strategy and leadership combined with his strong relationship with the brand, make him ideally suited to accelerate our digital transformation and to build on the positive impact of our Consumer Direct Offense. I look forward to continuing to lead the Board as Executive Chairman, as well as partnering closely with John and the management team to help him transition to his new role.”
John Donahoe added:
“It is an honor to become President and CEO of this amazing, innovative company, and to join the more than 76,000 talented and passionate employees dedicated to serving athletes. Over the last five years, I’ve been proud to be connected to Nike through my role on the Board and now look forward to being a full-time member of the team, working even more closely with Mark, building on Nike’s success and seizing the opportunities ahead.”
In related news, Nike's ACG Winter 2019 collection drops this weekend.