Nike’s CEO Mark Parker is stepping down, he will be replaced by board member John Donahoe, who formerly ran e-commerce company eBay. Parker, who joined the company in 1979 as a footwear designer, has been CEO since 2006.

Nike’s sales have been on the rise as the company focuses on selling more of its swoosh-branded sneakers online and on its apps. The company’s first quarter earnings last month soared past expectations.

For Generation Z, i.e. those born between 1997 and 2012, Nike is their favorite clothing brand. Nike also leads among US teens in the footwear segment. Nike’s athletic apparel offering is gaining mindshare among American consumers in four categories—innovation, fashion, style, and value. On the question of the most innovative brand, Nike is gaining ground in the mid- to upper-income male demographic. Nike is perceived as the most fashionable on-trend brand. Nike was named tops in fashion among men (42 per cent) and women (31 per cent). The positive response to Nike on both the innovation and fashion fronts is translating into high future purchase intent. Specifically, 41 per cent of men and 38 per cent of women are likely to make Nike their next athletic apparel purchase.