Nike announced Thursday Douglas Houser and Orin Smith will retire from the Nike Board of Directors and will not stand for re-election at the company’s annual meeting of shareholders in September.
Houser, 80, has been on the board since 1970 and serves as a member of its Corporate Responsibility and Sustainability Committee, as well as its Nomination and Corporate Governance Committee.
Smith, 73, joined Nike’s board in 2004. He serves as chair of the board’s Finance Committee and as a member of its Audit Committee. The board will announced the succeeding chair of the board’s Finance Committee after the shareholders meeting.
“For many years we’ve been privileged to have both Doug Houser and Orin Smith as influential directors on our board. They have provided valuable insight and contributions and I’m extremely grateful for the leadership they have brought to Nike over the years,” said Philip H. Knight, chairman of the board.
Knight added, “Doug joined the board before the birth of the Nike brand and provided valuable guidance to the company through its challenging formative years to become the world’s leading athletic footwear, apparel, and equipment brand. Orin has provided seasoned financial guidance and leadership, resulting in the company’s fiscal strength and tremendous growth opportunities that we see today. Doug and Orin have given me thoughtful counsel over the years, and I will sincerely miss them.”