Nike co-founder Phil Knight has retired from the board of directors. Mark Parker, CEO and brand president, will now act as Nike Chairman.

Knight first announced that he would step down last summer. Now, almost a year to the date, those claims ring true. Knight has done so by selling his remaining supervoting shares in Swoosh LLC. His son, Travis Knight, now has 2/3 voting control.

Nike has also announced the appointment of Apple CEO Tim Cook to the position of lead independent director of the board. Cook has been a member of the Nike board since 2005.

Knight, with this new move, has been appointed chairman emeritus. Stay tuned for more on this story as it continues to develop.

source: germannotes

Nike Co-Founder Phil Knight Officially Retires from Board of Directors

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