Mark Parker to step down as Nike CEO after 13 years
Parker will remain with the company as Executive Chairman on the board of directors
Mark Parker, CEO of footwear giant Nike will reportedly step down in January next year. According to reports, John Donahoe, former eBay CEO and current Nike board member will be taking over from Parker. Donahoe is expected to help drive Nike's digital transformation, which has been an essential part of the company's business strategy in recent years.
Parker who has been with the company since 1979, took over as CEO from Nike founder, Phil Knight in 2006 and will continue his association with Nike in the capacity of Executive Chairman on the board of directors.
Reports state that the surprise announcement resulted in a 3.4% drop in Nike's share prices to $92.32, which slipped further to $91.84 as of October 28th.
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