The board of directors of Nike, Inc. has appointed Mark Parker, as the company's new president and chief executive officer following the resignation of William D. Perez. Mr Parker who was co-president of Nike brand will also succeed Mr Perez on the company's board of directors.

The board and Mr Perez mutually agreed to end his relationship with the company without cause, citing differences regarding leadership between Mr Perez and Mr Philip Knight, Nike's founder and board chairman.

Mr Parker is a seasoned Nike veteran with 27 years experience at the company.