The Wall Street Journal first reported Mr. Martin’s departure on Friday.

“Abrupt changes of this nature are rarely good in the short term,” said Sam Poser, an analyst with Susquehanna Financial Group, who added that Nike was known for developing and training employees.

“These are the orchestra conductors at Nike,” he said of Mr. Edwards and Mr. Martin. “One individual isn’t going to make or break it, generally, but it’s just that this was sudden.”

In an internal memo to staff on Thursday, Mr. Parker wrote that the company had received complaints of “conduct inconsistent with Nike’s core values and against our code of conduct.”

“Over the past few weeks, we’ve become aware of reports of behavior occurring within our organization that do not reflect our core values of inclusivity, respect and empowerment at a time when we are accelerating our transition to the next stage of growth and advancing our culture,” Mr. Parker wrote. “This disturbs and saddens me.”

Mr. Edwards, who joined Nike in 1992 and eventually rose to become the company’s brand president, will depart in August. He will serve as an adviser to Mr. Parker until then.