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Nike CEO to step down in 2020

NIKE Inc. on Oct. 22 said Mark Parker will step down as president and CEO of the company in 2020. Parker will assume the role of executive chairman and will continue to lead the company's board of directors.

John Donahoe, the current president and CEO of ServiceNow Inc., will succeed Parker as president and CEO. He will also remain on the company's board. Parker will continue to work closely with Donahoe and the senior management team.

All changes will take effect on Jan. 13, 2020.

Parker has been with Nike since 1979 and was appointed the company's CEO in 2006. There were a number of controversies that plagued the company during Parker's tenure. A number of Nike executives, including brand president Trevor Edwards, left their positions last year amid workplace complaints of inappropriate behavior. The company was also rocked by allegations of discrimination against women with respect to pay and career advancement.

In an interview with CNBC after the announcement of his resignation, Parker said Donahoe's arrival will help the company in its digital transformation, a key part of Nike's strategy. Parker said Donahoe has significant experience with consumer digital enterprise technology and global strategy.