Apple CEO Tim Cook named lead independent director at Nike

Posted:
in General Discussion edited June 2016
Nike on Thursday appointed Apple CEO and longtime board member Tim Cook as its "lead independent director," while announcing company founder Phil Knight's retirement from the board.




Cook first joined Nike's board in 2005 when he held the position of chief operating officer at Apple. He continues to play an active role in the sport equipment firm's business as chairman of the compensation committee and a member of the nominating and corporate governance committee.

Nike updated its corporate governance webpage to reflect the change, though it is still unclear what responsibilities come with Cook's new role.

As for Knight, the former chairman of Nike's board has been replaced by president and CEO Mark Parker, who will add the role to his existing duties. Knight has been named Chairman Emeritus, meaning he can attend board meetings as an observer and outside counsel.

CNBC first reported the development through its Twitter account.

Comments

  • Reply 1 of 13
    yojimbo007yojimbo007 Posts: 1,157member
    Whats a lead independent director?
  • Reply 2 of 13
    Rayz2016Rayz2016 Posts: 6,957member
    Good question. 
  • Reply 3 of 13
    redefilerredefiler Posts: 323member
    Whats a lead independent director?
    My guess:

    Lead = Cheif
    Indepenpendant = not part of the typical corporate structure
    Director = telling Nike what to do

    Probably sorta like iCEO, until the new guy gets his training wheels off.
    edited June 2016 yojimbo007radiospace
  • Reply 4 of 13
    foggyhillfoggyhill Posts: 4,767member
    Wow, Apple is way into Nike's things now? Are they buying it? Or doing a stock swap?
    With the wearables being the next thing, Apple is really going all in.
    yojimbo007slprescottradiospace
  • Reply 5 of 13
    yojimbo007yojimbo007 Posts: 1,157member
    redefiler said:
    Whats a lead independent director?
    My guess:

    Lead = Cheif
    Indepenpendant = not part of the typical corporate structure
    Director = telling Nike what to do

    Probably sorta like iCEO, until the new guy gets his training wheels off.
    Redfiler... Thanks... Interesting !
  • Reply 6 of 13
    boredumbboredumb Posts: 1,418member
    Quite a feet...
    radiospacebaconstang
  • Reply 7 of 13
    SpamSandwichSpamSandwich Posts: 33,407member
    He replaced Phil Knight on their board, so that's a significant recognition of his value to Nike as a board member.
  • Reply 8 of 13
    This is another demonstration that Tim Cook knows how to stay focused on the long term while blocking out the short term nonsense. 
    patchythepirateentropysradiospacebaconstang
  • Reply 9 of 13
    anantksundaramanantksundaram Posts: 20,280member
    Whats a lead independent director?
    See here for a shorter version, and here for a more substantive version.
    baconstang
  • Reply 10 of 13
    entropysentropys Posts: 3,238member
    This is another demonstration that Tim Cook knows how to stay focused on the long term while blocking out the short term nonsense. 
    A laser focus. In fact his vision is so long term Apple still sells broadwell CPUs in flagship laptops at premium prices.
    edited July 2016
  • Reply 11 of 13
    bigmikebigmike Posts: 262member
    iDo It
    baconstang
  • Reply 12 of 13
    baconstangbaconstang Posts: 848member
    bigmike said:
    iDo It
    Just i It....
  • Reply 13 of 13
    nabzifnabzif Posts: 16member
    It'd be nice if Nike would update their app to be able to access the heart rate monitor on the Apple Watch; this should have been possible ever since Watch OS 2 was released...
    edited July 2016
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