Nike Taps Company Veteran as New CEO, and Shares Rally

Beaverton, Oregon -

Nike, Inc. announced today that its board of directors has appointed long-time company veteran, John Donahoe, as its new chief executive officer (CEO). Donahoe, who most recently served as the company's president and chief operating officer (COO), will replace Mark Parker, who is stepping down after 13 years in the role.

Donahoe's Elevation Signals a New Era for Nike:

Donahoe joined Nike in 2008 and has held various leadership positions within the company. He was instrumental in the development and implementation of Nike's digital strategy, which has helped the company become a leader in e-commerce. As president and COO, Donahoe was responsible for overseeing Nike's global businesses and operations, including product development, manufacturing, and marketing.

Donahoe's appointment as CEO is seen as a sign of Nike's continued commitment to innovation and growth. Under his leadership, the company is expected to accelerate its digital transformation and expand its reach into new markets.

Parker Leaves a Legacy of Success:

Mark Parker, who has served as Nike's CEO since 2006, is credited with transforming the company into a global sportswear powerhouse. During his tenure, Nike's revenue more than doubled, and it became one of the most valuable brands in the world.

Parker is also known for his focus on innovation and sustainability. Under his leadership, Nike launched initiatives that promote sustainable practices throughout the company's supply chain. He is also a strong advocate for diversity and inclusion.

Shares Rally on News of Donahoe's Appointment:

Following the announcement of Donahoe's appointment, Nike's shares rose by over 3% in pre-market trading. Investors are optimistic that Donahoe will continue to drive Nike's growth and profitability.

Nike is one of the world's leading sportswear companies, with a market capitalization of over $200 billion. The company employs over 76,000 people worldwide and sells its products in over 160 countries.