Search by category:
Business

John Donahoe To Replace Mark Parker As CEO Of Nike In 2020

Mark Parker, longtime CEO of apparel giant Nike will step down from his post in January 2020. He will become the company’s executive chairman and continue to lead Nike’s board of directors. Parker has been the Chief Executive Officer of Nike since he took over from Phil Knight in 2006. Knight was the founder of the sporting goods giant. Parker has been associated with Nike for four decades now and has worked in different capacities including as co-president and vice president of the global footwear. He will be replaced by John Donahoe, the CEO of ServiceNow and also a Nike board member. Parker in an interview recently said that the selection of Donahoe is the best choice as he is no stranger at Nike. He also clarified that the decision was not driven by the latest doping allegations connected to the company’s Oregon Project.

The move to appoint Donahoe as the new CEO of Nike clearly indicates that the company is focusing on the digital market. Donahoe was formerly associated with multinational e-commerce cooperation eBay and is chairman of the board at PayPal. Donahoe had been CEO of the American cloud computing company since 2017, almost two years after he stepped down as a chief executive officer of eBay. The decision has impacted both the companies as their shares seesawed in after-hours trading. The shares of ServiceNow tumbled more than 10 percent whereas that of Nike was down by 1 percent.

Donahoe is handing the CEO reins to Bill McDermott, former CEO of enterprise software behemoth SAP. McDermott is scheduled to assume the post at ServiceNow in January next year. Until then, John Donahoe is staying on to help with the transition. ServiceNow, a USD 43 billion public company, was founded by Fred Luddy in Solana Beach. The company moved its headquarters from San Diego to Silicon Valley in 2014. As of July, the company had around 900 workers. ServiceNow is betting on McDermott to take the company to the next level.

Post Comment