When the music stopped Tuesday afternoon, the CEOs of three large public companies were sitting in new seats.
Nike Inc. NKE, -0.64% announced Tuesday afternoon that Chief Executive Mark Parker would step down by the end of the year, and be replaced by ServiceNow Inc. NOW, -5.21% CEO John Donahoe. Just minutes later, ServiceNow said that its new CEO will be Bill McDermott, who stepped down from the CEO role at SAP SE SAP, -0.69% less than two weeks ago.
The move at Nike continues a series of changes at the top of leading activewear companies. Earlier Tuesday, Under Armour Inc. UA, +6.88% announced that its chief executive and founder, Kevin Plank, will transition to executive chairman. Adidas SE ADS, -1.91% announced Monday that high-profile executive Eric Liedtke, widely viewed as a future chief executive candidate at that company, would depart by the end of the year.