SAP's Bill McDermott named new ServiceNow CEO

NIKE Inc. Announces Board Member John Donahoe Will Succeed Mark Parker as President & CEO in 2020 Parker to Become Executive Chairman

NIKE Inc. Announces Board Member John Donahoe Will Succeed Mark Parker as President & CEO in 2020 Parker to Become Executive Chairman

Mark Parker is stepping down as Nike's president and CEO.

Mr Donahoe now is president and CEO of ServiceNow, a tech services firm, as well as a member of Nike's board, a position he will retain after the transition. In an interview to CNBC, Parker said the change was unrelated to the Oregon Project or any other issues. On the marketing side, he's overseen the company's recent push into values-defining cultural initiatives, in which Nike has sponsored athletes like Colin Kaepernick and Serena Williams and backed them with powerful ad campaigns.

Credited with creating the popular Nike Air sneakers as well as other pioneering products, Parker, in the past few years, oversaw Nike's shift to selling directly to customers online and its success in worldwide markets, particularly China. He will become executive chairman of the board of directors and continue to work closely with the senior management team, Nike said in a news release.

Donahoe has been a member of the board since 2014 and will remain so.

Nike's digital revenue surged 35% in the last fiscal year, with the company expecting online sales to account for about a third of its business by 2023.

Nike shares were flat in trading on Tuesday.

A year ago about a dozen executives were pushed out at Nike and Mr Parker apologised in a scandal that included reports of widespread sexual harassment and bullying, embarrassing the "Just Do It" brand that was characterised by equality and empowerment.

Nayanthara joins Katrina Kaif in a special video
The lady recently was crowned as the "Risk Taker Of The Year" at Vogue Women Of The Year Awards 2019 which was held on Sunday. The newly-turned entrepreneur has been collecting love from all around B-town after she launched her own company.

Parker denied that his departure had anything to do with the various scandals plaguing the company under his leadership.

Donahoe, who has led ServiceNow for a little over two years, is handing the CEO reins to new recruit Bill McDermott.

Donahoe brings a wealth of tech industry experience to Nike, which is morphing into a tech company in many ways, investing in recent initiatives such as its "Consumer Direct Offense" strategy and its Nike App.

ServiceNow shares fell about 16 percent on the development.

The company is betting on McDermott to take ServiceNow to the next level.

Nike announced that Parker would step down just hours after rival sportswear firm Under Armour announced that its founder Kevin Plank would step down.

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