EBay Inc. (EBAY:US) Chief Executive Officer John Donahoe will join Nike Inc. (NKE:US)’s board, bringing e-commerce experience to a company that’s increasingly looking for ways to use the Internet to boost sales.
“John’s executive management experience in digital commerce, technology, strategic planning and marketing for a global brand makes him an excellent addition to our board,” Philip H. Knight, chairman of Beaverton, Oregon-based Nike, said in a statement today.
Nike, the world’s largest sporting-goods maker, is turning to technology such as activity-tracking software to help maintain growth. Its digital strategy is part of an ambitious plan to reach $36 billion in yearly revenue by the end of fiscal 2017, requiring a compound annual growth rate of 9.2 percent.
Donahoe, 54, has been CEO of EBay since 2008, overseeing an online shopping site and the PayPal payment system. Before joining the company in 2005, he was the CEO of Bain & Co.
Nike shares fell less than 1 percent to $75.64 at the close in New York. The stock has climbed 22 percent over the past 12 months.
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