After serving as Nike’s CEO since 2006 and as Chairman, President & CEO since 2016, Mark Parker will be stepping down from his high-ranking position at the leading sportswear imprint. In his place, fellow veteran businessman John Donahoe will assume the role beginning at the top of next year.

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Donahoe, who currently serves as President and CEO of ServiceNow, Inc., isn’t a complete stranger to the Swoosh fam; he’s been a member on the Board of Nike since 2014. It’s worth nothing that Parker will not be leaving Nike entirely, or at all in fact, as he’s simply just switching his position to Executive Chairman while also continuing his tenure as lead on the Board of Directors.

In case you need assurance that Donahoe is qualified for the job, read his brief career synopsis below, via Nike News:

Donahoe is the current President and CEO of ServiceNow, Inc. and also serves on its Board of Directors. He is Chairman of PayPal Holdings, Inc. From 2008 through 2015, he was President and CEO of eBay, Inc. and previously was the CEO and Worldwide Managing Director of Bain & Co. from 1999 to 2005, and a Managing Director from 1992 to 1999. He earned a bachelor’s degree in Economics from Dartmouth College and an MBA from Stanford University.

The move goes into effect starting Jan. 13, 2020. We can’t wait to see what this means for the brand, but we can only assume nothing but bigger and better things!