UPDATE 1-Nike CEO Mark Parker to step down, John Donahoe to take over

Nike Inc's long-time chief executive officer, Mark Parker, will step down next year and be replaced by John Donahoe, the CEO of cloud computing firm ServiceNow Inc, the footwear and apparel maker said on Tuesday.

Parker had said last year he would remain CEO and chairman of the footwear maker beyond 2020, with his remarks coming at a time the company was hit by a series of executive departures and probes on workplace complaints. Separately, ServiceNow said it appointed Bill McDermott as its CEO. McDermott helmed software maker SAP from 2014 until recently.

ServiceNow shares fell about 16% on the development. Donahoe, who has been on Nike's board since 2014, will take over Jan. 13, while Parker will become executive chairman and continue to lead Nike's board.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)