💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Nike outlines Chairman Knight's succession plan

Published 06/30/2015, 04:48 PM
Updated 06/30/2015, 04:55 PM
© Reuters. Knight watches at the U.S. Olympic athletics trials in Eugene
NKE
-

(Reuters) - Nike Inc (N:NKE), the world's biggest sports shoe company, said it had started a succession plan for Chairman Phil Knight and said he would transfer his ownership in the company to Swoosh, a limited liability company.

Knight said he recommended current CEO Mark Parker to succeed him as chairman, expectedly in 2016.

© Reuters. Knight watches at the U.S. Olympic athletics trials in Eugene

Nike said Knight owned 128.5 million Class A common stock in the company which represented about 15 percent of combined total outstanding Class A and Class B common stock.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.