Nike Inc's long-time chief executive officer, Mark Parker, will step down next year and be replaced by board member and former eBay CEO John Donahoe, who will be tasked with strengthening the sportswear maker's online strategy.
Nike did not give any reason for Parker's exit from the top job. In an interview to CNBC, Parker said the change was unrelated to the Oregon Project or any other issues. He will become Nike's executive chairman and continue to lead the board after Donahoe takes over as CEO. Edward Jones analyst Brian Yarbrough said Donahoe's e-commerce experience could help with Nike's online push, while Parker could focus more on product development, one of his key strengths.During Parker's tenure, Nike's stock surged more than nine-folds. They were marginally higher in extended trading on Tuesday.
"Nike has had their fair share of scandals and issues ... and they didn't really go out and look externally. It definitely seems like it could be part of" the Oregon scandal, Yarbrough said, referring to Parker's departure.
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