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Knight Stepping Down at Nike

Beaverton, Ore., Nike Inc. co-founder Philip Knight, 63, is stepping down as president and CEO of the athletic shoe and apparel company he made into a $12 billion brand. His successor will be William D. Perez, president and CEO of S.C. Johnson & Son. Knight, who will retain the title of chairman, is expected to remain an active presence in the company.

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