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Parker, founder Phil Knight's hand-picked successor, plans to stay at the company as executive chairman.

PMG FILE PHOTO - Nike CEO Mark Parker spoke to a large crowd during President Barak Obama's 2015 visit to the Nike campus in Washington County.Nike said Tuesday, Oct. 22, that former eBay executive and Nike board member John Donahoe will succeed Mark Parker as president and chief executive officer in 2020.

Nike's new President and Chief Executive Officer Donahoe takes the reins Jan. 13, 2020.

Parker has been chief executive officer since 2006. Since 2016, he has been the company's chairman, president and chief executive officer. He will become the company's executive chairman and continue to lead Nike's board of directors, working with Donahoe and a senior management team.

"I am delighted John will join our team," Parker said in a company news release. "His expertise in digital commerce, technology, global strategy and leadership combined with his strong relationship with the brand, make him ideally suited to accelerate our digital transformation and to build on the positive impact of our Consumer Direct Offense."

Parker, who has been with Nike 40 years, will help Donohue ease into his new job.

"It is an honor to become president and chief executive officer of this amazing, innovative company, and to join the more than 76,000 talented and passionate employees dedicated to serving athletes," said Donahoe.

Donahoe's background is in tech companies. He is the president and chief executive officer of ServiceNow Inc. He also is chairman of PayPal Holdings Inc. From 2008 through 2015, he was head of eBay Inc. From 1999 to 2005, he was chief executive officer and worldwide managing director of Bain & Co.

He earned a bachelor's degree in economics from Dartmouth College and an MBA from Stanford University.


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