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BEAVERTON, United States — Nike Inc. Chief Executive Officer Mark Parker was recommended to become the next chairman, part of a succession plan that readies the sneaker company for the day when co-founder Phil Knight steps down from the role.
As part of the preparations, Knight will transfer ownership of his shares to a limited liability company, according to a statement Tuesday. Nike also is appointing Travis Knight, his son, to the board.
“For me, Nike has always been more than just a company -- it has been my life’s passion,” Phil Knight said in the statement. “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.”
By: Nick Turner
