The company made the announcement today alongside news that Chairman Phil Knight has retired from the Board of Directors and that the Board has appointed Mark Parker, Nike’s President and CEO since 2006, to the additional position of Chairman.
Tim Cook, CEO of Apple, has been appointed lead independent director of the Board, effective immediately. Cook has been a Nike director since 2005, is chair of the Board’s Compensation Committee and serves as a member of the Nominating & Corporate Governance Committee.
Apple has partnered with Nike in the past, most notably with Nike+iPod; however, the companies haven't collaborated on any hardware as of late. Tim Cook was spotted wearing a FuelBand numerous times before the launch of the Apple Watch and the company even hired engineers off the FuelBand team.