Nike’s Co-Founder Phil Knight to Step Down in June

Nine months after announcing he would leave the chairman role of the company he co-founded, Phil Knight has announced that he’ll be leaving Nike Inc. in June. Knight does plan to retain a seat on Nike’s board, however, and indicated he would remain active with the company.

Knight solidified his plans in an interview with CNBC’s Sara Eisen, when he indicated that his philosophy is that “it’s a lot better to step down two years early than two years late.” Knight recommended that Mark Parker, Nike’s current CEO, take on the role of chairman.

The CNBC interview is one of several that Knight is conducting to promote the release of his memoir, “Shoe Dog.”