OREGON - Nike Inc (NKE.N), the world's largest sports shoe company, said Chairman and co-founder Phil Knight would step down next year.
Knight recommended that Chief Executive Mark Parker succeeds him as chairman. Parker has been CEO since 2006.
Chairman since 2004, Knight said in a statement on Tuesday that he would continue to play an active role in Nike even after his tenure ends.
Knight, 76, owned a 16.26 percent stake in Nike as of Dec. 31. He will transfer most of those shares, representing about 15 percent of Nike's common stock, to Swoosh, a limited liability company.
Nike said it appointed Knight's son Travis Knight to its board.
The company, which Knight co-founded in 1964 with Bill Bowerman, has raced ahead of rivals such as Under Armour Inc (UA.N) and Adidas AG (ADSGn.DE) with its Jordan, LeBron and Kobe basketball shoe brands, popular with young Americans. - REUTERS
About 92 News HD Live Main TV Channel of Pakistan:
92 News (also known as 92 News HD Plus (Channel 92) is a conservative Urdu language TV channel based in Lahore, Pakistan.
Mian Muhammad Hanif is the chairman of the channel.
This TV channel is a subsidiary of Madinah Group under Galaxy Media Group.
The channel's name, 92, is to celebrate the 1992 Cricket World Cup won by Pakistan. The number 92 is also the telephone country calling code of Pakistan, which is another major reason behind the channel's name.
92 News HD is Pakistan’s first HD Plus News Channel. Aims to bring credible & responsible News & important stories from Pakistan & around the World
We bring you Latest Pakistani and International News at 92 News Hd Plus to Read and Watch
We believe in genuine and true journalism, we do not prevail sensation just for ratings.
We do not hide news but never tend to add any unethical content or angling that goes against the norms of our religion Islam and Pakistan's culture.
تازہ ترین خبریں حاصل کرنے کے لیے فوری اطلاع کی اجازت دیں
آپ کسی بھی وقت دائیں طرف نیچے بیل آئیکن پر صرف ایک کلک کے ذریعے آسانی سے سبسکرائب کر سکتے ہیں۔