Nike Inc. NKE, -0.64% announced Tuesday afternoon that Chief Executive Mark Parker would step down by the end of the year, and be replaced by ServiceNow Inc. NOW, -5.21% CEO John Donahoe. Just minutes later, ServiceNow said that its new CEO will be Bill McDermott, who stepped down from the CEO role at SAP SE SAP, -0.69% less than two weeks ago.
The top sportswear companies have been embroiled in controversies involving college athletics, which landed one former Adidas executive a prison term earlier this year. Well-known track coach Alberto Salazar was recently hit with a four-year ban by the U.S. Anti-Doping Agency for testosterone experiments on athletes that were reportedly bankrolled and supported by Nike, though Parker told CNBC that the scandal was not related to his planned departure.
“ServiceNow is a special company and leading the team has been an honor,” Donahoe said in a statement as he headed out the door to lead a high-profile Dow Jones Industrial Average DJIA, -0.15% component. “ServiceNow’s board is thrilled to have Bill McDermott join the company,” said Jeff Miller, lead independent director of the ServiceNow board of directors. “His global experience and proven track record will provide for a smooth transition and continued strong leadership.”