Co-founder of Nike, Phil Knight, is to step down as Chairman this June. Knight has spent the past 50 years at the helm of the sports brand.
The 78 year old has managed to build an empire over this time and is more than ready (and financially stable) to retire. Plans are in place for current CEO, Mark Parker, to take over as Chairman, whilst Nike President, Trevor Edwards, will become the new CEO.
Knight has recently mentioned his desire to give away the majority of his $26 billion fortune that he has amassed to charity. Speaking to CBS the magnate said, “by the time, you now, the lives of my children and their kids run out, I will have given most of it to charity”.
What a nice guy.
#Peace.Love.Nike
