The stock fell $27.84, or 12.2%, to $200.50.
Nike said its CEO, Mark Parker, is stepping down in January. John Donahoe, CEO of ServiceNow and a Nike board member, will replace Parker.
Nike shares rose $1.19, or 1.2%, to $96.79 in after-hours trading.
Save 57% during our Halloween Sale. Don't let this market haunt you. Join Jim Cramer's Investment Club, Action Alerts PLUS. Click here to sign up!