Phil Knight retires from Nike board - KPTV - FOX 12

Phil Knight retires from Nike board

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Phil Knight, co-founder and chairman of Nike, Inc., watches Oregon play Oregon State from the sidelines during an NCAA college football game in Corvallis, Or., Saturday, Nov. 15, 2014. (AP Photo/Troy Wayrynen) Phil Knight, co-founder and chairman of Nike, Inc., watches Oregon play Oregon State from the sidelines during an NCAA college football game in Corvallis, Or., Saturday, Nov. 15, 2014. (AP Photo/Troy Wayrynen)
BEAVERTON, OR (AP) -

Nike says Phil Knight, its co-founder and chairman, has retired from its board. CEO Mark Parker is the new chairman.

Apple CEO Tim Cook, on the board since 2005, becomes the lead independent director.

Knight had said a year ago that he planned to step down. He said then he wanted Parker to replace him

"Phil’s impact on Nike is immeasurable,” Parker said in a release. “His entrepreneurial drive is and always will be part of our DNA. Along with Nike’s exceptional management team, I am committed to leading our next era of innovation and growth as we serve and inspire athletes throughout the world.”* 

Knight started Nike by selling shoes out of the back of his car and built it into the world's largest athletic shoe and clothing company.

He becomes the company's chairman emeritus. He will be able to attend Nike board meetings as an observer.

"I intend to continue to work to promote the company’s business in my new role for as long as I can contribute to NIKE’s success and long-term growth," Knight said.

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