Nike said Tuesday that its longtime CEO Mark Parker is stepping down early next year.
He will be replaced by board member John Donahoe, who formerly ran e-commerce company eBay. Parker will become executive chairman of the board.
Nike's sales have been on the rise as the company focuses on selling more of its swoosh-branded sneakers online and on its apps. The company's first quarter earnings last month soared past expectations. But Nike has also been plagued by scandals recently.
Three weeks ago, renowned track coach Alberto Salazar was banned from the sport for four years by the U.S. Anti-Doping Agency for running experiments with supplements and testosterone that were bankrolled and supported by Nike, along with possessing and trafficking testosterone. Nike announced that it was shutting down its elite Oregon Project track and field program overseen by Salazar in the wake of the scandal.
Parker said in a TV interview with More