Nike Says Mark Parker to Step Aside as CEO -- Update

Date : 10/22/2019 @ 9:24PM
Source : Dow Jones News
Stock : Nike Inc (NKE)
Quote : 93.04  0.0 (0.00%) @ 11:51AM

Nike Says Mark Parker to Step Aside as CEO -- Update

Nike (NYSE:NKE)
Historical Stock Chart

1 Month : From Oct 2019 to Nov 2019

Click Here for more Nike Charts.
By Khadeeja Safdar 

Nike Inc. said longtime Chief Executive Mark Parker will step aside as CEO of the sportswear giant and be replaced by one of the company's current board members.

Mr. Parker, who took over as CEO in 2006, will step aside on Jan. 13, 2020, and be replaced by John Donahoe, a former eBay Inc. CEO who is a Nike director. Mr. Parker will become Nike's executive chairman.

The executive shuffle comes at a time that Nike's sneaker and apparel business has been logging strong sales, but the brand has also faced a series of public relations crises, including the recent ban of Nike's top running coach amid doping allegations and concerns about the company's workplace culture.

Last year, Mr. Parker apologized for allowing a corporate culture that excluded some staff and failed to take seriously complaints about workplace issues. The apology followed weeks of turmoil and the departures of several senior executives, including Mr. Parker's top lieutenant.

The Wall Street Journal had earlier reported that Nike was investigating allegations of inappropriate behavior after a group of women at the company had circulated a survey that reached Mr. Parker.

Earlier this month, the Journal reported that Nike-backed running coach Alberto Salazar on numerous occasions briefed Mr. Parker on his experiments using testosterone cream for track and field athletes, according to emails revealed by the U.S. Anti-Doping Agency.

Mr. Parker, in an email to Nike staff, described news accounts as "highly misleading" and underscored his support for Mr. Salazar. A spokesman for Nike said Mr. Salazar was concerned Nike runners could be sabotaged by people rubbing the cream on them.

Write to Khadeeja Safdar at khadeeja.safdar@wsj.com

 

(END) Dow Jones Newswires

October 22, 2019 17:09 ET (21:09 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

Latest NKE Messages

{{bbMessage.M_Alias}} {{bbMessage.MSG_Date}} {{bbMessage.HowLongAgo}} {{bbMessage.MSG_ID}} {{bbMessage.MSG_Subject}}

Loading Messages....


No posts yet, be the first! No {{symbol}} Message Board. Create One! See More Posts on {{symbol}} Message Board See More Message Board Posts


Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.


NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.