Nike just made Apple CEO Tim Cook its ‘lead independent director’ (NKE, AAPL)

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Tim Cook just got a promotion at Nike. On Thursday, Nike made Apple CEO Tim Cook its “lead independent director.”

Cook has been serving on Nike’s board of directors since 2005. He is the chair of the board’s compensation committee and is on the nominating and corporate governance committee.

He frequently sports Nike apparel, and before Apple launched the Apple Watch, he could frequently be seen wearing a Nike FuelBand.

Cook’s bio has already been updated on Nike’s investor website.

Nike also announced that founder Phil Knight was retiring from the board of directors.