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In December 2004, Phil Knight, the legendary Chief Executive Officer (CEO) of Nike, stepped down to hand over the reigns (for the third time) to William D Perez. Although Knight had stepped down twice in the past, Nike''s dismal performance forced him to return as the CEO on both occasions. Knight created a unique organisational culture at Nike where he seldom gave his managers direction nor evinced interest about the details of the products that his company manufactured. ''Knight has always been one of the oddest of the Fortune 500 CEOs, a man who seems to embody exactly the opposite of what his creation extols''. This case can be used to: (1) analyse the leadership style of Knight at Nike; (2) analyse the different business decisions taken by Knight for the growth of Nike; (3) understand the organisational culture at Nike; (4) analyse the marketing strategy of Nike and its impact on the company''s brand image; (5) debate the causes for the failure of Knight''s successors at Nike; and (6) analyse the problems that the new CEO, Perez is likely to face at Nike.