Sports fashion retailer Nike has announced that its CEO and president, Mark Parker, will step down next year.
He will be succeeded by John Donahoe, who will be appointed as the company’s new president and chief executive officer, effective 13 January 2020. He will remain on the board of Nike where he has been a member since 2014.
Parker will become executive chairman and continue to lead the board of directors and work closely with Donahoe and the senior management team.
Parker said: “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.”
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.”