NEW YORK (Reuters) - Nike Inc.
The company said Nike brand co-president Mark Parker will take over from Perez, who steps down after just 13 months with the company.
Nike, based Beaverton, Oregon, said its board and Perez mutually agreed to end his relationship without cause.
"Succession at any company is challenging, and unfortunately the expectations that Bill and I and others had when he joined the company a year ago didn't play out as we had hoped," Knight said in a statement.
Nike is still enjoying robust demand within the United
States for its shoes and apparel, but investors and analysts
have shown concern over increased competition from the pending
merger between Adidas-Salomon
Perez joined Nike in December 2004 after a long career with S.C. Johnson, but had no experience in the athletic shoe business.
In a statement, Perez said he and Knight "weren't entirely aligned on some aspects of how to best lead the company's long-term growth."
He added: "It became obvious to me that the long-term interests of the company would be best served by my resignation."
Parker, 50, who joined Nike in 1979, will also succeed Perez on the company's board.
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