Mike Parker is set to step down as the chief executive of Nike in January 2020.
He has held the role since 2006, but will be succeeded by current board member John Donahoe, who is currently the chief executive of Servicenow and chairman of Paypal.
Parker will remain at the company as executive chairman.
Nike is yet to make the reasoning behind Parker’s change in role clear.
“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. 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.”
Donahoe said: “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.”
