Knight's Announcement Comes As A Surprise; Bringing In Outsider Also Raises Some Eyebrows

Phil Knight surprised both Wall Street and the sports industry by announcing before the close of business Thursday that he is stepping down as President & CEO of Nike, tabbing S.C. Johnson’s William Perez to replace him in those posts. Knight will keep an active role with the company as Chair. While many observers saw either Charles Denson or Mark Parker — co-Presidents of the Nike Brand -– as the likely successor, Knight said that hiring an outsider would help preserve balance within the company’s executive ranks. Some question whether Perez can seamlessly integrate himself into the corporate culture in Beaverton, but others say his experience with consumer brands and his success marketing them internationally make him a good fit in his new role.

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