After the sale of Swoosh voting interests, Travis Knight controls two of the five votes on the Swoosh Board. Nike said Thursday that its co-founder and chairman Phil Knight has retired from its board and CEO Mark Parker has been named the new chairman. Nike also said Thursday that Knight has sold his voting interests in Swoosh LLC to a trust controlled by his son and board director Travis Knight. Phil Knight formed Swoosh over a year ago to hold the majority of his shares of Nike Class A common stock, which aren't publicly traded. The Beaverton, Oregon, company also announced that Apple CEO Tim Cook, on its board since 2005, will become its lead independent director.

Source: New Zealand Herald June 30, 2016 21:56 UTC