Jørgen Vig Knudstorp
NIKEAbout Jørgen Vig Knudstorp
Former President & CEO of the LEGO Group (2004–2016), later Executive Chairman of LEGO Brand Group (2017–2023), and Special Partner to KIRKBI Group (2023–2024); previously a consultant at McKinsey & Company (1998–2001). He is age 56, a nominee standing for first-time election to Nike’s Board in 2025, and the Board has determined he is independent under NYSE rules; he serves as lead independent director at Starbucks Corporation and holds non-profit leadership roles (Deputy Chair, LEGO Foundation; Chair, BrainPOP Education) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| LEGO Group | President & Chief Executive Officer | 2004–2016 | Executive leadership |
| LEGO Brand Group (owner of the LEGO brand) | Executive Chairman | 2017–2023 | Executive leadership |
| KIRKBI Group (LEGO brand owner family holding company) | Special Partner | 2023–2024 | Strategic advisory |
| LEGO Group | SVP Corporate Affairs; VP Strategic Development | 2001–2004 | Corporate roles |
| McKinsey & Company | Management Consultant | 1998–2001 | Strategy consulting |
External Roles
| Organization | Role | Tenure/Status | Committees |
|---|---|---|---|
| Starbucks Corporation | Director; Lead Independent Director | Current (year not disclosed) | Board leadership |
| LEGO Foundation | Deputy Chair | Current | Board leadership |
| BrainPOP Education | Chair | Current | Board leadership |
Board Governance
- Independence: The Board affirmatively determined Jørgen Vig Knudstorp has no material relationship with Nike and is independent under NYSE rules .
- Committee assignment: If elected, he will join the Corporate Responsibility, Sustainability & Governance Committee effective September 9, 2025 .
- Committee structure: Only independent directors sit on Audit & Finance, Compensation, and Corporate Responsibility, Sustainability & Governance committees .
- Board meetings: Nike’s Board held four meetings in FY2025; all incumbent directors attended at least 75% of Board and applicable committee meetings (Knudstorp was a nominee, not an incumbent) .
- Lead Independent Director: Timothy Cook was re-appointed Lead Independent Director in June 2025 for a three-year term .
Fixed Compensation
| Item | Amount/Terms | Notes |
|---|---|---|
| Annual cash retainer (non-employee directors) | $100,000 | Paid quarterly |
| Annual restricted stock award | $200,000 grant-date value | Granted generally at the annual meeting; forfeiture if service ends before next annual meeting or 12 months |
| New director sign-on restricted stock award | $200,000 grant-date value | Forfeiture if service ends before first anniversary |
| Lead Independent Director retainer | $40,000 | Paid quarterly |
| Committee chair retainer | $25,000; Audit & Finance Chair $30,000 | Paid quarterly |
| Audit & Finance Committee member retainer | $5,000 | Paid quarterly |
| Matching charitable contributions | Up to $20,000 annually | Under NIKE Matching Gift Program |
| Travel reimbursement | Company pays or reimburses Board-related travel | Policy applies to all directors |
As of May 31, 2025, each non-employee director held 2,437 shares of unvested restricted stock; no director held outstanding stock options (Knudstorp was a nominee, so personal holdings were not disclosed) .
Performance Compensation
| Element | Structure | Metrics/Vesting |
|---|---|---|
| Director equity (restricted stock) | Time-vested restricted stock; annual grant $200,000; sign-on grant $200,000 | Vests to next annual meeting or 12 months; forfeiture on early termination; no performance metrics |
Directors are not granted performance-vested PSUs or options in the director program; equity is time-vested to align interests and promote retention .
Other Directorships & Interlocks
| Company | Role | Interlock/Considerations |
|---|---|---|
| Starbucks Corporation | Lead Independent Director | Starbucks is in Nike’s FY2025 compensation peer group, indicating talent/brand comparability rather than a supplier/customer conflict; no related-party transactions with Starbucks were cited in independence review . |
| LEGO Foundation | Deputy Chair | Non-profit; no Nike transactions disclosed . |
| BrainPOP Education | Chair | Private education entity; no Nike transactions disclosed . |
Expertise & Qualifications
- CEO experience; retail industry; brand/marketing; global; media/entertainment; HR/talent management; financial expertise; digital/technology; governance .
Equity Ownership
- Director stock ownership guideline: Non-employee directors must hold Nike stock valued at 5x the annual cash retainer, with five years allowed to reach compliance (new directors) .
- Hedging/pledging: Directors are prohibited from hedging, monetization, or short sales; pledging requires pre-approval with safeguards against blackout-period sales and insider-trading concerns .
Governance Assessment
- Independence and committee fit: Knudstorp is Board-designated independent and slated for Corporate Responsibility, Sustainability & Governance Committee membership—aligned with his governance and sustainability oversight experience .
- Alignment and incentives: Director pay is modest cash plus time-vested equity with strong stock ownership guidelines, promoting “skin-in-the-game” without short-term performance bias .
- Shareholder environment: 2024 say‑on‑pay received ~83% support; FY2025 engagement reached out to holders of 48% and engaged with 43% of Class B shares, indicating active investor dialogue on governance and compensation .
- Related-party exposure: The Board’s independence review cited specific relationships (Apple, Stanford, Ariel) and concluded none were material; Knudstorp’s Starbucks role was not flagged, and he was affirmed independent .
- RED FLAGS: None disclosed regarding conflicts, related-party transactions, pledging/hedging, attendance shortfalls, or director-specific pay anomalies for Knudstorp in the 2025 proxy .