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Phil Knight stepping down as chairman of Nike

By Mike Dyce

Feb 13, 2014; Los Angeles, CA, USA; General view of a Nike logo basketball during the game between the Utah Utes and the Southern California Trojans at Galen Center. Mandatory Credit: Kirby Lee-USA TODAY Sports
Feb 13, 2014; Los Angeles, CA, USA; General view of a Nike logo basketball during the game between the Utah Utes and the Southern California Trojans at Galen Center. Mandatory Credit: Kirby Lee-USA TODAY Sports /
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Phil Knight is stepping down as the chairman of Nike, the sporting goods company.

Nike is arguably the biggest sporting goods and apparel company on the planet, having been led by chairman Phil Knight. But that relationship is coming to an end with reports that Knight will be stepping down as Nike’s chairman.

The news also corresponded with a report from ESPN sports business expert Darren Rovell, who reported that Knight was transferring his Nike stock into a new limited liability company.

As for the reasoning and who will replace Knight, those questions all remain unanswered at the moment. The report is just breaking and the story is just developing, but as more details emerge we’ll continue to keep you up to date with all the latest information right here.

UPDATED: Nike’s Phil Knight recommended that current CEO Mark Parker eventually succeed him as chairman. Aside from the move of stock by Knight, he has also added his son Travis Knight to the board of directors.

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