Bill McDermott will now be heading ServiceNow. He will take over from John Donahoe who was the CEO of ServiceNow until he steps down. McDermott the CEO of ServiceNow was earlier heading SAP.
John Donahoe is the new CEO of Nike, as announced by the company on Tuesday. He was previously the chief executive officer of ServiceNow. He had been at ServiceNow from 2017. Nike is a well-known brand that stands for footwear and apparel making. For almost five years, Donahoe has been on Nike’s board.
McDermott is now the CEO of ServiceNow. He will lead the company after Donahoe leaves in January. Previously he was heading SAP. He has been working at SAP for almost a decade from 2010, after which he stepped down to take over ServiceNow. He will begin his work from January 2020.
Jennifer Morgan will then take over as CEO at SAP. She will be replacing McDermott along with Christian Klein. Jennifer Morgan, who was leading the cloud business at SAP, will take over as CEO at SAP. Christian Klein was the chief operating officer at the tech company.
At Nike, Donahoe has been appointed as the CEO, after Mark Parker. Parker has led the sneaker giant for more than a decade. Though Nike has shown good first-quarter earnings, much above expectations, it is currently facing a few scandals. Even after the change, Parker will continue heading the company’s board and will now be the executive chairman of the company.
Donahoe was formerly the CEO of eBay, the retail site. He heads PayPal Holdings as the chairman.
Shares of Nike have gone up 29 percent year-on-year. Product innovation has helped in its sales growth, especially for its athlete brands. Trade war has not had much of a negative impact on Nike sales and growth.
Change in leadership brought down share prices initially after which they were back to normal.