Nike has appointed former Intel CEO Bob Swan to the Oregon company’s board, one of two new board members the Oregon company announced Wednesday.
Nike is Oregon’s largest company and Intel, though based in Silicon Valley, is the state’s largest corporate employer.
Swan, 62, was a veteran Silicon Valley finance executive when Intel hired him in 2016 as chief financial officer. The chipmaker promoted him to interim CEO two years later when Intel fired CEO Brian Krzanich after the board uncovered a past relationship between Krzanich and a subordinate.
Swan initially said he had no interest in remaining Intel’s CEO, but after a seven-month search for his replacement came up empty Swan agreed to stay on. His tenure coincided with a difficult period for Intel, as a succession of technological failures cost Intel its leadership position in the chip industry.
Intel replaced Swan early last year with VMware CEO Pat Gelsinger, who has presided over an even more difficult stretch for the chipmaker as it attempts to recover its technological edge amid falling sales. Swan joined Silicon Valley investment firm Andreessen Horowitz last year.
Nike’s other board appointment Wednesday was Mónica Gil, chief administrative and marketing officer of NBCUniversal Telemundo Enterprises.
Swan will serve on the audit and finance committee of Nike’s board. Nike’s board appointed Gil to its compensation committee.
Both will receive $200,000 in Nike shares as a “sign-on award” associated with their appointments to the board.
-- Mike Rogoway | mrogoway@oregonian.com | 503-294-7699 | Twitter: @rogoway |
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