Nike Creates Corporate Responsibility Committee

Nike's board unanimously approved the creation of a corporate
responsibility. The new committee will be responsible for reviewing, reporting and making recommendations to the full board regarding the company's business strategy and practices and their alignment with corporate responsibility commitments. The committee will review the company's efforts in the area of labor compliance initiatives, environmental practices, community affairs programs, human resources, diversity issues and philanthropic efforts.

"The board's creation of this committee reaffirms Nike's commitment to corporate responsibility at every level of our business," said CEO Phil Knight. "The key to a sustainable business, from our perspective, is keeping in mind that we are accountable for not only our financial results, but also for the overall footprint we leave behind, both environmental and social."

Dr. Jill Conway, a Nike director and visiting scholar with the MIT's program in Science, Technology and Society, will chair the committee. She is also an author and former president of Smith College. Former Nike president, attorney and director Richard Donahue, and Dr. A. Michael Spence, former dean of the Graduate School of Business at Stanford University, will also serve on the committee.

The committee's responsibilities will include:

* Advising the board of directors about the role of corporate responsibility initiatives in business decisions;
* Providing guidance to management regarding environmental and sustainability issues;
* Reporting to the Board of Directors on Nike's labor compliance practices and reviewing reports of the company's monitoring processes;
* Reviewing the Nike Foundation and community involvement initiatives;
* Reviewing Nike's work with industry groups and non-governmental organizations;
? Making recommendations regarding reporting to shareholders.