USA – Nike Inc. (NKE) appoints Tim Cook as the lead independent director at the firm, who have been a part of the Nike board group since 2005.
The offer made of Cook is a part of the reshuffle in the firm as the Co-Founder & existing Chairman, Phil Knight retires from Nike board team. Mark Parker will be the new chairman of the firm; changes effective immediately.
Having said that, Tim Cook has been a part of Nike Inc. board team since 2005. However, his promotion as the lead independent director will top within his responsibilities at the firm. He will also chair the compensation committee and corporate governance committee. He will be responsible for evaluating CEOs performance and company’s administration over executive compensation plans.
However, Tim is also going to stay with Apple Inc. (AAPL) as company’s CEO. Cook has been a part of Apple since 1998 as senior vice president of global operations. He was then made executive vice president at the firm.
Apple Corporation has previously collaborated with Nike for their Nano iPod product targeting runners that enabled the device to track runner’s exercise data caught by the soles of Nike runner shoes.
