Nike Dips as It Doubles Down on Tech With Pick of Ex-EBay CEO
- Shares drop after torrid run as Parker’s successor is selected
- Management change follows huge increase in e-commerce sales
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After turning e-commerce and apps into a centerpiece of its operations, Nike Inc. is taking the next logical step: hiring a tech CEO.
The athletic brand tapped former EBay Inc. head John Donahoe to replace Chief Executive Officer Mark Parker next year in the biggest sign yet that Nike wants to be seen as a technology business. Like Starbucks Corp., which hired a Silicon Valley veteran as CEO in recent years, Nike is joining a parade of retail companies remaking their image.