Phil Knight Officially Retires From Nike

While we had anticipated this move for a while, Phil Knight, co-founder of Nike, has officially stepped down from his position on the Nike Inc. board. It was a ceremonious departure for Knight, who had made several media appearances since announcing his retirement in July, 2015. The highlight of his farewell is undoubtedly “Shoe Dog”, a memoir penned by Knight detailing his early years, the formation of Nike, and how the brand evolved to the point of signing Michael Jordan. Knight has sold his remaining supervoting shares in Swoosh LLC, making his son Travis in possession of 2/3 voting control. Apple CEO Tim Cook, a Nike board member since 2005, becomes lead independent director.  Mark Parker is now chairman of Nike. Truly an end of an era.

Source: germanotes