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.
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.