Nike Co-Founder, Chairman & CEO, Phil Knight has just done it.

Four decades ago, from the ground up, he built and has "run" the shoemaker, sportswear giant. Yesterday, Knight announced that he and the Nike Board have hired William D. Perez to continue Knight and Bill Bowerman's legacy which began in the early 60's.

When Philip J. Knight started selling running shoes in 1962 out of the back of his station wagon in Eugene, Oregon, even he probably did not imagine that some forty-two years later he would be retiring from the helm of a company that now employs 24,000 people worldwide who sold goods in 2004 worth $12.3 billion. Today, Nike is based in Beaverton, Oregon -- just outside of Portland.

While Richard Branson, the "king" of Virgin is on a quest to hand over the keys to his kingdom to a contestant on his current Reality TV show, Knight, the co-founder of Nike chose to find his successor in a more traditional way.

After a year long executive search, Knight is preparing to turn over the CEO reins to fifty-seven year-old, William Perez.

Perez is currently President & Chief Executive Officer of the privately-held consumer products company, S.C. Johnson & Sons.

S. C. Johnson & Sons is the Racine Wisconsin-based makers of Brise, Drano drain cleaner, Edge, Glade air fresheners, Grab-it, Kabbikiller, Mr. Muscle, Off! insect repellent, Raid bug spray, Scrubbing Bubbles, Shout, Vanish, Windex and Ziploc.

Over Perez' thirty-four year career at S.C. Johnson, he has helped build market share for these global brands and others.

As CEO since 1996, he has managed country, regional and worldwide operations. Last year, S.C. Johnson ranked in the top 10 among the "100 Best Companies for Working Mothers" according to Working Mother magazine. Through the SC Johnson Fund, Inc. in the U.S., the company donates, on average, 5% pre-tax profits every year to advancing the three legs of sustainability: economic vitality, social progress, and a healthy environment.

S.C. Johnson employs 9,500 people in 70 countries.

Last year, S.C. Johnson generated $6.5 billion in revenue.

In addition to becoming the company's CEO, Perez will take a seat on Nike's Board.

Knight, who is 66, will remain Chairman of Nike's Board of Directors.

25-year-veterans Charlie Denson and Mark Parker, Nike brand co-presidents, whom investors saw as possible successors, plan to stay with the company, spokesman Kirk Stewart said.

Knight will complete the end of an era next month when Perez takes over the helm.

"This begins an exciting new chapter in Nike's ongoing business evolution," Mr. Knight said in a statement. The new chapter begins upon his resignation on December 28th.

Speaking on behalf of the board, Mr. Knight said:

Bill is a highly regarded and deeply talented leader with more than 30 years experience as a builder of global brands and businesses. Bill has a demonstrated commitment to consumers, new product innovation and development, growth, team building and talent development. He also knows how to operate a highly socially responsible global business, all of which make him the right person to lead Nike, Inc.

Nike has enjoyed tremendous success as we have grown to become a $12-billion global company. As I've said many times over the past three years, Nike's current management team, led by Brand Presidents Charlie Denson and Mark Parker, is the strongest it's ever been. With Bill, we will become even stronger. I am confident that as CEO of Nike, Inc., Bill will lead Nike's extraordinary team of people to create an even bigger and better global company.

Mr. Perez, 57, said the Nike brand was "one of the best managed on the globe".

"I was drawn to this company because the Nike brand perpetually stays current," he said.

"You can feel the innovative spirit that Phil and his team inspires from product design, to retail to athlete partnerships. And I am a strong believer in 'Just Do It'."

Nike's new CEO, effective December 28th added:

I am thrilled and honored to run Nike.

I look forward to working with a terrific team of people and helping build a future that will drive greater value for our shareowners, employees, consumers and communities.

In Nike's press release issued on Thursday, the company spoke of Perez' credentials:

Mr. Perez began his career at S.C. Johnson in 1970 and held a series of progressively more responsible positions in sales, marketing, brand management and general management, becoming President and Chief Operating Officer of Worldwide Consumer Products in 1993, and President and Chief Executive Officer of the company in 1996.

Mr. Perez has been General Manager of both S.C. Johnson Spain and Iberia, Vice President and Regional Director of Consumer Products in Latin America, Vice President of the U.S. Home Care business and Executive Vice President of Consumer Products in North America. Under his leadership, S.C. Johnson has been recognized for its environmental and community investment leadership and progressive workplace programs.

He has been a member of the Board of Directors of Kellogg Company since 1999, where he serves on the Audit Committee and the Consumer Marketing Committee. He is also a member of the Board of Directors of Hallmark Cards, Inc. and Grocery Manufacturers of America. He previously served as a director of May Department Stores Company until May 2004.

A native of Akron, OH, who grew up in Colombia, South America, Mr. Perez received his B.A. degree in government from Cornell University and a graduate degree from American Graduate School of International Management.

An avid runner, he has participated in 11 marathons.

For the last 27 years Bill Perez has only worn Nikes.

...Hopefully, not the same pair.

Perez said he will stay true to Knight's vision. His base salary will be $1.35 million annually, with bonuses of up to 125 percent of his salary.

Meanwhile, Knight will retain 72 million of the voting shares of Nike Class B stock. Currently, these shares are worth about $6.12 billion and represent about 28 percent of the company. Knight also holds 92 percent of the nonvoting Class A stock, according to filings with the Securities and Exchange Commission.

From Blue Ribbon Sports to The Name of a Goddess to a Simple, Very Powerful Swoosh

When Phil Knight was on the University of Oregon track team in 1957, he and his coach, the late
Bill Bowerman ended up not only on the same track field, the two joined forces in the field of business.

Together, Knight and Bowerman became two shoe pioneers "branding" the Nike "waffle sole" using Bowerman's waffle iron.

In 1962, they co-founded Blue Ribbon Sports to sell Tiger, a Japanese running shoe.

By 1968, Tiger's Cortez shoe, made to Bowerman's specifications, was Tiger's best-selling shoe.

Knight went on to attend Stanford Business School.

In 1972, their operation was renamed Nike, the Greek goddess of victory.

Since then, it has gone on to become one of the most famous brands in the world.

Their goal: To create a way to help fellow athletes perform better.

Today, not only do people around the world recognize the Nike swoosh, people associate the company with world-class athletes like golf legend Tiger Woods, basketball legend Michael Jordan, tennis legend Andre Agassi, soccer legend Mia Hamm, baseball superstar (if you're a Yankees fan) Derek Jeter, the great volleyball player Gabrielle Reese, and the 2003-04 Rookie of the Year and up-and-coming basketball star, LeBron James...to name just a few.

In September, Nike reported that first-quarter sales were up 18 percent to $3.56 billion from $3.02 billion a year ago. Global orders jumped nearly 10 percent, with less than 1 percent of the growth due to changes in currency rates.

The company also reported a large increase in its U.S. orders, up 11 percent to $1.4 billion -- reversing a declining trend in the national shoe market over the last several years.

Perez' operation going forward includes the following brands:

Nike athletic footwear, apparel, equipment and accessories for a wide variety of sports and fitness activities;

Wholly owned Nike subsidiary, Converse Inc., which designs, markets and distributes athletic footwear, apparel and accessories;

Bauer NIKE Hockey Inc., a leading designer and distributor of hockey equipment;

Cole Haan, a leading designer and marketer of luxury shoes, handbags, accessories and coats;

Hurley International LLC, which designs, markets and distributes action sports and youth lifestyle footwear, apparel and accessories;

Exeter Brands Group LLC, which designs and markets athletic footwear and apparel for the value retail channel.

Nike's influence and success in the world does not stop there.

Altruistically, Nike gives back to many organizations and individuals.

Nike's mission for corporate responsibility is "to lead in corporate citizenship through programs that reflect caring for the world family of Nike, their teammates, their customers, and those who provide services to Nike."

Three of Nike's many efforts to give back include:

1) The NikeGO community affairs program which supports workshops in LA and New York put on by:

2) In honor of co-founder, Bill Bowerman's contributions to the sport of running and to the development of his company, Nike established the Bowerman Foundation. Nike contributes to a $1 million matching-funds program within the foundation, which will renovate youth track-and-field facilities around the world through 2005.

3) In 2001, Nike created The Casey Martin Award to honor an individual who, like the courageous Stanford graduate turned pro golfer, has overcome physical, mental, societal or cultural challenges to excel in their sport, and who is changing the very face of the sport in which they compete.

To learn about Casey and this year's recipient, quadriplegic surfer, Jesse Billauer, go to:

Congratulations Phil Knight, Bill Perez, and all 24,000 Nike employees!

May the company which has helped athletes achieve their goals from the bottom of our toes on up, continue to inspire us to "just do it" for the next forty years.

Here's to healthy, adventuresome, soulful living -- with more victorious gods and goddesses like Tiger, Air Jordan, Andre, Mia, Casey and Jesse, in our future!

Inspire & Be Inspired (R).

~ Jennifer Carolyn King