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Shares of ServiceNow Inc. (NOW) - Get Free Report fell sharply in after-hours trading as its CEO set plans to depart for the top job at Nike (NKE) - Get Free Report .

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.

ServiceNow named Bill McDermott, former CEO of SAP Inc. (SAP) - Get Free Report , to be its next CEO.

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