Mark Parker will step down from his position as Nike CEO in the New Year. The Swoosh has officially announced that John Donahoe will replace Parker on January 13, 2020, with the long-time boss continuing as the Executive Chairman.
Starting his career at Nike as a designer, Parker has now spent over four decades at the brand, eventually taking over from Phil Knight as the CEO in 2006.
‘This is an exciting time for Nike where we see brand strength and momentum throughout the world and great opportunity for future growth,’ said Parker. ‘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. I look forward to continuing to lead the Board as Executive Chairman, as well as partnering closely with John and the management team to help him transition to his new role.’
It wasn’t totally devoid of controversy, but Parker’s tenure at the top will be fondly remembered, mostly for the strong money moves. Nike tripled its revenue during his reign.
The heir apparent, 59-year-old Donahoe, currently serves as CEO of ServiceNow, and previously spent a number of years running eBay. He has also served as a Nike board member since 2014 and also remains Chairman of PayPal Holdings.
Read Nike’s official state here.