Nike chief executive Parker to step down

first_imgNike’s long-time chief executive officer, Mark Parker, will step down next year and be replaced by board member and former eBay CEO John Donahoe, who will be tasked with strengthening the sportswear maker’s online strategy.Donahoe, who has been on Nike’s board since 2014, will join the sneaker maker from cloud computing firm ServiceNow, where he was CEO for more than four years. Prior to that, he led online retailer eBay for the seven years through 2015.Nike’s Parker had said last year he would remain CEO and chairman of the sports giant beyond 2020, with his remarks coming in the midst of a series of executive departures and probes on workplace complaints.The move comes days after the world’s biggest footwear maker shut down its Nike Oregon Project training group, following the recent four-year ban of the center’s founder and coach Alberto Salazar by the US Anti-Doping Agency (USADA).Nike did not give any reason for Parker’s exit from the top job. In an interview to CNBC, Parker said the change was unrelated to the Oregon Project or any other issues.Parker joined Nike as one of its first footwear designers in 1979, and held several roles during his tenure at the company before taking charge as its top boss in 2006.Credited with creating the popular Nike Air sneakers as well as other pioneering products, Parker, in the past few years, oversaw Nike’s shift to selling directly to customers online and its success in international markets, particularly China.He will become Nike’s executive chairman and continue to lead the board after Donahoe takes over as CEO.“We like that Donahoe comes from technology and that he comes from the digital space and we like that he is a strategist and a leader … things that have made Nike positive have been because of those sort of strengths,” Jane Hali & Associates analyst Jessica Ramirez said.Nike’s digital revenue surged 35% in the last fiscal year, with the company expecting online sales to account for about a third of its business by 2023.Edward Jones analyst Brian Yarbrough said Donahoe’s e-commerce experience could help with Nike’s online push, while Parker could focus more on product development, one of his key strengths.HITS AND MISSESDuring Parker’s tenure, Nike’s stock surged more than nine-fold..Over the past year, however, Parker faced a number of speedbumps as he chased his target of $50 billion in annual sales. He apologised to staff last year after a series of workplace complaints at the company.Nike also came under fire for featuring an ad with former NFL player Colin Kaepernick, who sparked a national controversy by kneeling during the US national anthem.“Nike has had their fair share of scandals and issues … and they didn’t really go out and look externally. It definitely seems like it could be part of the Oregon scandal,” Yarbrough said, referring to Parker’s departure.Separately, ServiceNow said it appointed Bill McDermott as its CEO. McDermott helmed software maker SAP from 2014 until recently.last_img read more

Dominant RCB thrash Kings XI by 10 wickets to live another day,Dominant RCB thrash Kings XI by 10 wickets to live another day

first_imgRoyal Challengers Bangalore batsmen Virat Kohli and Parthiv Patel celebrate their victory during IPL cricket match against Kings XI Punjab, at Holkar Stadium, in Indore on Monday. – PTI × Royal Challengers Bangalore batsmen Virat Kohli and Parthiv Patel celebrate their victory during IPL cricket match against Kings XI Punjab, at Holkar Stadium, in Indore on Monday. – PTI COMMENT Published on May 14, 2018 cricket Royal Challengers Bangalore produced a dominating performance to outclass Kings XI Punjab by 10 wickets and stay afloat in the Indian Premier League here today.After bundling out Kings XI for paltry 88, RCB chased down the target with consummate ease, reaching 92 for no loss in 8.1 overs.Skipper Virat Kohli led from the front with the bat with an unbeaten 48 while Parthiv Patel made unbeaten 40 to help RCB romp home.Kohli struck six fours and two towering sixes during his 28-ball unbeaten knock, while Parthiv’s innings was laced with seven boundaries.While Kings XI slumped to their third successive loss, RCB improved upon their net run rate by sealing the victory in 8.1 overs.RCB now have 10 points from 12 games, same as Kings XI with two games remaining for the both teams.Earlier, Kings XI wilted under pressure as a spirited RCB bundled them out for paltry 88 in the must-win match.Sent into bat, Kings XI innings never got going as they lost wickets like pack of cards from the onset to be bowled out in 15.1 overs.Backed by some good fielding, Umesh Yadav (3/23) came up with an impressive bowling effort up front to destabilise the Kings XI innings.Besides, Yadav, Yuzvendra Chahal (1/6), Colin de Grandhomme (1/8), Moeen Ali (1/13) and Mohammed Siraj (1/17) picked up a wicket each.Aaron Finch top-scored for Kings XI with a 23-ball 26 while KL Rahul made 21 up the order.RCB bowlers were very well complemented by some good outfield catching and three runs outs.Kings XI witnessed a terrible start to their innings after being sent into bat as they lost four wickets with the scoreboard reading just 50 in 6.5 overs.Rahul gave Kings XI a brisk start with a 15-ball 21 in the company of Chris Gayle (18) before Yadav struck twin blows in the fifth over, dismissing both the openers.While Rahul pulled one straight to de Grandhomme a deep square leg, Gayle departed in similar fashion caught by Siraj off another short delivery three balls later.To make matters worse for Kings XI, Karun Nair edged a delivery straight to RCB skipper Kohli at the lone slip in the next over.Wickets kept on tumbling for Kings XI as Marcus Stoinis and Mayank Agarwal too perished when their team needed them the most.While Stoinis was cleaned up by Chahal, Agarwal got a faint edge to a de Grandhomme delivery in the leg side and Patel did the rest behind the stumps.From there on, Kings XI never really recovered and were eventually bundled out for the second lowest total of this years IPL, courtesy some brilliant work at the field by RCB fielders. SHARE SHARE SHARE EMAIL COMMENTSlast_img read more