Apple CEO Tim Cook just added a leadership position at another of the world's biggest companies to his resume.
Nike announced Thursday that Cook will serve as "lead independent director" of the company's board as part of a minor seat switch-up. Cook has been a member of the sneaker giant's board of directors for more than a decade.
SEE ALSO: Apple,super petite teen sex video It's Time to Make Something NewThe Oregon-based company also announced that chairman and co-founder Phil Knight will be retiring from his post as chairman. Nike CEO Mark Parker will assume the position in his place.
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Knight, 77, first announced the departure along with his replacement last June.
Knight founded Nike with his former University of Oregon track coach Bill Bowerman in 1964 backed by a mere $500 investment from each. In the ensuing decades, he built the business into a multibillion-dollar corporation through savvy marketing and endorsement deals.
“Phil’s impact on NIKE is immeasurable,” Parker said in a statement. “His entrepreneurial drive is and always will be part of our DNA. Along with NIKE’s exceptional management team, I am committed to leading our next era of innovation and growth as we serve and inspire athletes throughout the world.”
Apple and Nike have worked together on a few business deals through the years including the Nike running app.
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