BEAVERTON, Ore. (AP) — Two of Nike Inc.'s longest-serving directors will retire this year, shrinking the athletic apparel company's board by two seats.
The company, based in Beaverton, said Thursday that Jill Conway and Ralph DeNunzio will not stand for re-election at Nike's annual meeting of shareholders in September. Nike's directors must stand for election each year.
Conway, 77, joined Nike's board in 1987 and chairs its corporate responsibility committee. She also serves on its nominating and corporate governance committee, which is chaired by DeNunzio.
DeNunzio, 79, also chairs the board's compensation committee. He joined the board in 1988.
Nike Chairman Philip Knight praised Conway for founding the corporate responsibility committee and drawing attention to environmental and labor issues. He said DeNunzio's leadership on compensation contributed to Nike's fiscal strength.
Conway and DeNunzio will not be replaced. When their retirements take effect at the September meeting, the board's size will shrink to 12 from 14.
Two of the 12 have served even longer than Conway and DeNunzio. Douglas Houser joined the board in 1970. Knight joined in 1968.
Nike is a leading designer, marketer and distributor of athletic shoes, clothes and equipment. It also owns well-known apparel labels such as Cole Haan and Converse Inc.
Nike shares fell 10 cents to close at $80.29 on Thursday. They lost another 26 cents to $80.03 in after-hours trading.
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