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Nike CEO Perez Resigns Over Differences With Founder Knight
Parker Steps in as New CEO
The Associated Press reports that athletic shoe company Nike Inc., has announced that CEO William D. Perez had resigned due to differences with company founder and chairman Philip Knight and was being replaced by co-president Mark Parker.
Perez, formerly with consumer products maker S.C. Johnson, had joined Nike in December 2004. In a statement, Nike said that Perez had resigned by mutual agreement with the Nike board.
Perez issued a statement noting that he and Knight "weren't entirely aligned on some aspects of how to best lead the company's long-term growth. It became obvious to me that the long-term interests of the company would be best served by my resignation."
Nike notest that Mark Parker, 50, has been with Nike since 1979 and is considered the visionary behind the Nike Air franchise and many other innovations. He is one of the key executives leading the company's long-term strategic planning
"Mark has a proven track record in driving creativity, innovation and growth," Knight said in the statement. "He's an experienced, talented executive and has played an instrumental role in building our business and making the Nike brand as strong as it is today."
Charlie Denson will replace Parker as president of the Nike brand.
On the news shares of Nike
dropped 80 cents, or 1 percent, to $83.40 in early trading on the New York Stock Exchange. The stock has traded in a 52-week range of $75.10 to $91.54.
