Reuters reports that William Perez, 57, who ran privately-held consumer products company S.C. Johnson & Son, will replace
Knight as CEO and president from December 28 after more than a year-long search.
Knight, 66, who also will give up his title of president, plans to remain chairman of the board.
Analysts said the decision to name an executive with experience managing different brands made sense because the mature US athletic shoe market has forced the company to look beyond its core US shoe business to boost sales.
Perez worked at S.C. Johnson for 34 years and had served as chief executive officer since 1996.
John Shanley of Susquehanna Financial Group said Nike's recent acquisitions of Converse and sports apparel maker Starter highlight the company's need for a chief executive able to deal with multiple brands.
He added that Perez also has a strong background in international marketing - a key as Nike looks to expand its presence overseas.
But Jamelah Reddy, an analyst at McAdams Wright Ragen, said it was a surprise the board brought in an outsider because co-presidents who lead the company to soaring profits and record revenue over the past few years were seen as potential successors.
