NIKE NAMES NEW CHIEF FINANCIAL OFFICER
NIKE NAMES NEW CHIEF FINANCIAL OFFICER BEAVERTON, Ore., April 16 /PRNewswire/ -- NIKE Inc.
(NYSE: NKE; PSE), the world's leading sports and fitness company, today announced the appointment of Robert (Bob) S. Falcone, 45, as the company's vice president and chief financial officer effective June 1. He will replace George E. Porter, 61, NIKE's current chief financial officer, vice president Finance and treasurer, who plans semi- retirement at that time. Porter will continue to act on a part-time basis as vice president and treasurer.
Falcone, a certified public accountant, has been employed by NIKE since August 1990 as the director of Acquisitions. He also served briefly as interim director of Human Resources. Prior to joining NIKE, he had been a partner at the international accounting firm of Price Waterhouse since 1981, serving in several locations including New York, Memphis, Tenn., Philadelphia and, most recently, Portland, Ore., where he was the partner in charge of the NIKE account from 1983 through 1990. NIKE President Richard K. Donahue stated, "I'm excited to welcome Bob into his new role as vice president and chief financial officer. He has shown himself to be a solid team player and brings excellent credentials and familiarity with NIKE from his years at Price Waterhouse. He inherits an outstanding balance sheet which George Porter has played a crucial and valuable role in creating. Because of George's efforts as CFO over the past seven years, NIKE can boast the strongest financial position and the highest return on sales of any company in the industry. I'm confident that Bob will continue to manage NIKE's finances in this exemplary manner." Originally from New Jersey and a 1969 graduate of Villanova University, Falcone and his wife live in Lake Oswego, Ore., and have four children ranging in age from seven to 16. He is a member of the board of directors of Portland's Westside YMCA and is active in a variety of other charitable and youth organizations. Porter joined the company as vice president in 1982 and has held executive positions in administration, research and development and footwear. He became chief financial officer in 1985. In his role as vice president and treasurer, Porter will oversee the investment of NIKE's cash and securities portfolios, international banking relationships, foreign exchange activities and will continue as a trustee of the company's profit sharing and 401(k) plans. -0- 4/16/92 /CONTACT: Ron Parham of NIKE, 503-671-3079/ (NKE) CO: NIKE Inc. ST: Oregon IN: HOU SU: PER
SC-JH -- SE004 -- 9102 04/16/92 09:06 EDT
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|Date:||Apr 16, 1992|
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