Nike has announced that Apple CEO Tim Cook has been appointed as the lead independent director of Nike's Board of Directors. Cook has been a member of the athletic company's board of directors since 2005.

Tim Cook

The announcement from Nike notes that Cook also serves as chair of the Board's Compensation Committee. He is also a member of Nike's Nominating & Corporate Governance Committee. His new title comes as Nike's Chairman, Phil Knight, steps down from that position while its President and CEO Mark Parker assumes the Chairman duties.