Nike’s Mark Parker to step aside as CEO next year

New York, Oct 23 (AFP/APP): Sporting goods giant Nike announced a new CEO on Tuesday to take over from Mark Parker, who will continue to lead the company’s board of directors.

John Donahoe will replace Parker as president and chief executive officer effective January 13, Nike said in a statement.

Parker, who has served as CEO since 2006, and as chairman, president and CEO since 2016, “will become executive chairman and continue to lead the board of directors and work closely with Donahoe and the senior management team,” Nike said.

Donahoe currently is president and CEO of ServiceNow, a tech services firm, as well as a member of Nike’s board, a position he will retain after the transition.

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Parker said the change is aimed at using technology to boost the company’s output and efficiency, and pointed to Donahoe’s “expertise in digital commerce, technology, global strategy and leadership,” which “make him ideally suited to accelerate our digital transformation.”

Speaking moments after the announcement on CNBC, Parker said the goal is to use digital tools “to help transform the company and lift our ability to actually compete and grow our business.”

“This is all about accelerating that strategy,” he said, adding that he will be “very actively engaged” working with his successor “to make sure that this transition is as smooth as successful as possible.”

In after-hours trading following the announcement, shares in the company were largely unchanged at $95.65. They closed down 0.6 percent.

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