Mark Parker, the president and CEO of Nike, announced plans to step down today. Beginning January 13, 2020, he will be replaced by John Donahoe. Parker will remain involved with the company, serving a new role as executive chairman, overseeing the board of directors.
Parker has been CEO of Nike since 2006, during which time he’s overseen the company’s modern golden age of design—ranging from its revolutionary products like Flyknit to its bold, connected retail strategy. On the marketing side, he’s overseen the company’s recent push into values-defining cultural initiatives, in which Nike has sponsored athletes like Colin Kaepernick and Serena Williams and backed them with powerful ad campaigns.
Along the way, he’s also weathered backlash at Nike for its male-dominated leadership culture, which led to the firing of a dozen high-ranking executives. Earlier this month, news broke that Parker had been briefed on experiments with performance-enhancing drugs in connection to Nike-sponsored running coach Alberto Salazar.
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His replacement, John Donahoe, has served on Nike’s board for five years now. He’s also the former CEO of eBay, and spent 20 years as a consultant at Bain & Company before that. Nike tells us that while Parker is no longer CEO, he will still work closely with Donahoe to shape the future of the company.
I’ll update this story as more details about Parker’s departure become available.