<P> In a company public announcement on March 15, 2018, Parker said Trevor Edwards, a top Nike executive who was seen as a potential successor to the chief executive, was relinquishing his position as Nike's brand president and would retire in August . </P> <P> Nike has acquired several apparel and footwear companies over the course of its history, some of which have since been sold . Its first acquisition was the upscale footwear company Cole Haan in 1988, followed by the purchase of Bauer Hockey in 1994 . In 2002, Nike bought surf apparel company Hurley International from founder Bob Hurley . In 2003, Nike paid US $309 million to acquire Converse, makers of the Chuck Taylor All - Stars line of sneakers . The company acquired Starter in 2004 and Umbro, known as the manufacturers of the England national football team's kit, in 2008 . </P> <P> In order to refocus on its core business lines, Nike began divesting of some of its subsidiaries in the 2000s . It sold Starter in 2007 and Bauer Hockey in 2008 . The company sold Umbro in 2012 and Cole Haan in 2013 . As of 2017, Nike owns two key subsidiaries: Converse Inc. and Hurley International . </P> <P> Nike will buy back $8 billion of Nike's class B stock in four years after the current $5 billion buyback program is completed in second quarter of fiscal 2013 . Up to September 2012, Nike Inc. has bought back $10 billion of stock . </P>

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