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Nike restructures its board of directors and “promotes” Tim Cook

THE Nike yesterday announced some changes related to its board of directors. For those who don't know, Tim Cook (Apple CEO) member of the company's board since 2005 (both as chairman of the compensation committee and member of the nominating and corporate governance committee).

Well, with the retirement of Phil Knight (co-founder and former Nike CEO) of the board of directors, the current CEO of the company, Mark Parker, won a vacancy and Cook now becomes the independent leader board director.

According to Apple World Today, an independent leader director (also known as an external director) is a board member who does not have a material relationship with a particular company or people who are part of it, other than a fee for being on the board, which can reach up to US $ 120,000 a year even though that doesn't exactly explain what Cook's role will be, exactly.

PwC, for example, defines the position as an independent person among board members that helps to ensure that interpersonal relationships flow smoothly. One of the most important contributions would also be the dialogue that such directors would have with CEOs on corporate matters or governance issues, conversations that would take place regardless of a meeting of the directors.

The Nike website already reflects the changes, as we can see here.