Nike Co-Founder Phil Knight Will Step Down as Chairman

After spending 50 years with Nike, co-founder and current chairman Phil Knight has told CNBC that he will be stepping down as the chairman of Nike this June.  He also officially announced that he recommends Mark Parker to take over the chairman position. 

In addition to his official retirement announcement, Phil Knight has also released his memoir called Shoe Dog, which details his time and experience with the Swoosh brand.