Nike Co-Founder Phil Knight Will Reportedly Step Down As Chairman

Phil Knight has announced that in June he will step down from his role as chairman of Nike, the iconic brand he co-founded nearly 50 years ago. Knight made the shocking (although, he is 78) statement on CNBC's Squawk On The Street, in an appearance cleverly timed with the drop date of his memoir, Shoe Dog, available for purchase today. As Knight himself says, "it's better to step down two years too early than two years too late."