Phil Knight to step down as Nike chairman in June

Nike founder Phil Knight said he’ll leave his role as Nike chairman in June. He announced the transition last year, without giving an exact date.

Share this article!

Knight confirmed his June transition in an interview with Sara Eisen on CNBC on Tuesday.

Eisen: You did mention your role as CEO Mark parker, of course, current CEO who transitioned ten years ago. And now you are preparing for another transition to step down as chairman in June. How do you manage that succession plan for a company that you founded?

Knight: Well, you think about it a lot. So that basically the decision on the current plan for me to step down as chairman in June basically thought about for two or three years. And I just have a philosophy that it’s a lot better to step down two years early than two years late. And so I’m in good health and I feel good.

(Read More: CNBC)

The Portland Business Journal reports that Knight will stay active as a Nike board member.

Nike sponsored a $10-million bike share program in Portland. Read more in the OB feature, “Portland Gets the Bike Share Program It’s Always Wanted.”

RELATED NEWS: Nike reorganizes exec ranks; Nike releases images of campus expansion.