Phil Knight Decided To Remove The Position Of Chairman In 2016.

NikeInc. (NYSE:NIKE) Nike group, the world's largest sporting goods manufacturer, announced Tuesday that PhilKnight, co founder and chairman, will step down in 2016.

PhilKnight said in a statement that Nike NikeInc. is not just a company, but also its lifelong passion. He said that he spent a lot of time in the past years thinking about how to give the group ownership and leadership to all shareholders. He believed that his succession plan would maintain the strong corporate governance capability of the group and enhance the long-term growth capability of the group.

He said he will continue to play an active role in the group, and has recommended to the board that he has served as the president and chief executive of the MarkParker in 2006.

NikeInc. Nike group has launched the succession planning process, and it is expected to appoint a new one in 2016.

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In addition, Phil Knight41 year old son, animation company LaikaLLC president and CEO TravisKnight were also nominated to become the latest board members and come into effect immediately.

As of December 31, 2014, PhilKnight, aged 77, owns NikeInc. (NYSE:NIKE) 16.26% shares. He will pfer 15% of the shares (128 million 500 thousand a-a-share) to a new limited liability company SwooshLLC, whose directors include PhilKnight, MarkParker and NikeInc..

The two directors, executive vice president and chief financial officer of FedExCorp. (NYSE:FDX) FedEx group, chief executive officer of AlanGrafJr. and EbayInc. (NASDAQ:EBAY) JohnDonahoe.

According to SwooshLLC's shareholding and voting rights of Nike NikeInc. group, the company can nominate three new directors to the board of Nike NikeInc. group in the future.

PhilKnight and its track and field coach BillBowerman in the University set up the BlueRibbonSports of Nike NikeInc. group in 1964, when the company started to distribute Japan's Onitsuka (now AsicsCorp. (7936.T)) sports shoes and renamed Nike in 1971. In 80s, the group has climbed to the leading position in the industry, and 1999 passed away.

In PhilKnight and 1979, with the participation of MarkParker, the designer of sports shoes, the NikeInc. Nike Group continued to grow rapidly.

The group's revenue in the 2015 fiscal year ended by breaking the $30 billion mark, reaching $30 billion 601 million, an increase of 10.1% over the previous year, a 14% increase in fixed exchange rates, and a net profit of 3 billion 273 million US dollars, an increase of 21.5% over the previous year's us $2 billion 693 million.

With strong performance support, NikeInc. (NYSE:NIKE) shares have risen nearly 40% in the past 12 months, with a market capitalization of $92 billion 600 million, and no one can shake the position of big brother in the industry. The biggest competitor in the global market, AdidasAG (ADSGn.DE) Adidas group and the second largest sporting goods group in the United States, are Andemar.

According to Forbes, the net assets of PhilKnight are estimated at US $24 billion 300 million, ranking 22 in the us rich list.

NikeInc. Nike spokesman said PhilKnight is in good health and is actively involved in group affairs. He intends to retain a non voting seat on the directors after he leaves office.