Phil Knight to step down as Nike chairman next year

Knight, 77, has recommended to the brand’s board that Mark Parker, Nike’s president and CEO, should succeed him.

Knight has stated he will remain involved with the company he co-founded after he has stepped down as chairman.

“For me, Nike has always been more than just a company – it has been my life’s passion,” Knight says.

“Over the years, I’ve spent a great deal of time considering how I might 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.”

Of his decision to recommend Parker, Knight said: “I believe Mark is the best choice to succeed me.

“He has been an outstanding CEO for the past nine years and has demonstrated time and again his love for this company and his clear vision for capturing the tremendous potential Nike has to innovate, inspire and drive growth.”

Knight’s son Travis, 41, president and CEO of animation studio LAIKA, has joined Nike’s board of directors.

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