Retail in Asia

In People

Nike Chairman Phil Knight to step down in 2016

Nike, the world’s largest sports shoe company, said Chairman and co-founder Phil Knight would step down next year.

Knight recommended that Chief Executive Mark Parker succeeds him as chairman. Parker has been CEO since 2006.

Chairman since 2004, Knight said in a statement on Tuesday that he would continue to play an active role in Nike even after his tenure ends.

(Source: CNBC)