Nike announced on Tuesday that Mark Parker would step down as the company's chief executive, effective Jan. 13.
Parker became CEO of Nike, which has its headquarters in the Beaverton area, in 2006 after taking over for the company's founder Phil Knight. Since 2016, Parker has been the chairman of the board and president.
John Donahoe, currently the CEO of software company ServiceNow, Inc., will be appointed as Nike's new president and CEO, according to a statement from the company. Donahoe has been a Nike board member since 2014.
Nike said Parker will stay on as executive chairman and lead the board of directors working closely with Donahoe.
"I am delighted John will join our team," Donahoe said Tuesday. "I look forward to continuing to lead the Board as Executive Chairman, as well as partnering closely with John and the management team to help him transition to his new role."
National media reported that Nike's shares traded up and down on the news and were last up less than 1%. ServiceNow shares were down more than 10%.
Nike's leadership change came on the same day that another athletic apparel company, Under Armour, said its CEO, Kevin Plank, would step down on Jan. 1.
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