Nike CEO MARK PARKER "isn't going anywhere just yet, but an April shakeup in the executive ranks has set off speculation that an internal battle is brewing for the opportunity to succeed him," according to Matthew Townsend of BLOOMBERG NEWS. Nike President of Product & Merchandising MICHAEL SPILLANE continues his "rapid rise," after he "led a turnaround of Nike's China unit." The move put him "in charge of a huge swath of the company's operations." It also placed him "smack in the middle of the race to replace Parker." Nike COO ERIC SPRUNK and Brand President TREVOR EDWARDS are also in the running, with Edwards being "seen as the leading candidate." Spillane's five "major promotions in nine years are noteworthy." Spillane spent "less than two years in China before Parker promoted him" in March '15 to "head global footwear," where Nike generates 60% of its revenue. Now Spillane "reports directly to Parker, just like Edwards and Sprunk." Parker, who is 60, will "earn a huge stock award if he stays another four years, so he may remain until then, which would please investors." The stock has risen about 400% since he took over in '06. Townsend noted it is "unlikely" Nike looks outside the company for its next CEO (BLOOMBERG NEWS, 6/27).
