The timing is curious, to say the least. Less than a day after Under Armour (NYSE: UA) (NYSE: UAA) founder Kevin Plank resigned as CEO, the top executive at Nike (NYSE: NKE), Mark Parker, announced he'd be stepping down in January.
Even more curious is his replacement. Whereas Under Armour named apparel veteran and current company president Patrik Frisk as its next CEO, Nike went outside the company, and even outside the industry, selecting ServiceNow CEO John Donahoe for the position. Prior to taking the helm at ServiceNow, Donahoe was the chief of eBay.
It's not a completely outrageous idea. All companies are to some extent "tech" companies these days, and perhaps Nike more so than most. It's focusing in a big way on its online-selling efforts and is using technology in innovative ways to streamline inventory management. A tech veteran brings value to the table.