It's all according to a plan of succession put in place last year, so president/CEO Mark Parker will take over as chairman too. Cook's new position is intended as a way to provide independent leadership on the board, when the chairman and the CEO of the company are the same person. Nike and Apple have had a cozy relationship over the years, and this probably won't impact that significantly, although it comes as Nike is facing increased competition from the likes of Under Armour and Adidas.