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Nike brand president Charlie Denson to retire

BEAVERTON, Ore. (AP) -- Nike said Thursday that Nike brand president Charlie Denson is retiring in January and named Trevor Edwards, current executive of brand and category management, to replace him.

Denson, 57, who has been with Nike for 34 years and has been president of the brand for 7 years, plans to retire in January.

Denson "helped build the brand around the world," said CEO Mark Parker in a statement.

Edwards, 50, will become the new Nike brand president in July, leading all category and geographic business units, the Jordan brand, and action-sport brands including Hurley International.

The company is reorganizing its management structure as Denson steps aside. Eric Sprunk, 49, who is currently executive vice president of merchandising and product, will become chief operating officer. Jeanne Jackson, 61, currently president of direct-to-consumer, will become president of product and merchandising. Finally, Thomas Clarke, president of new business development, will become president of innovation.

Edwards, Sprunk, Jackson and Clarke will report directly to Parker.

The changes are geared toward driving growth in new products and streamlining operations. More details about the restructuring may emerge when the company reports fiscal fourth-quarter results on June 27.

Nike shares rose 4 cents in aftermarket trading to $60.82 after ending the day down 97 cents at $60.78. That's closer to the high end of the stock's 52-week trading range of $42.55 to $66.07.