Nike founder will step down next year

Nike founder will step down next year

Phil Knight, Nike founder and chairman, has said he will resign in 2016. He founded the company in 1968, alongside Bill Bowerman, was its CEO until 2004 and has been its chairman for the past 48 years. 

Will the CEO succeed him? 

He now plans to also relinquish his position as chairman and it is widely believed that Mark Parker, who has been the company's CEO since 2006, will be the one to take his place. "For me, NIKE has always been more than just a company – it has been my life's passion", Knight said on Nike's website. "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."

 

Under Knight's leadership, Nike became a worldwide recognizable sports brand, with a 92 billion dollar (more than 80 billion euro) value on the stock exchange. That is 300 times higher than its value when it launched its IPO in 1980.

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