Nike chief executive William Perez has resigned following disagreements with founder and chairman Philip Knight over how to lead company.
The company said Nike brand co-President Mark Parker will take over from Mr Perez, who steps down after just 13 months with the company.
Investors and analysts have shown concern over increased competition to Nike from the pending merger between Adidas and Reebok, and over tough market conditions in Europe and Japan.
Nike is still enjoying robust demand within the United States for its shoes and clothing, and it posted a 15 per cent jump in latest quarterly profits.
Mr Perez joined Nike in December 2004 after a long career with consumer products company SC Johnson & Sons, and worries over his lack of experience in the athletic shoe business have trailed him.
In a statement, Mr Perez said he and Knight "weren't entirely aligned on some aspects of how to best lead the company's long-term growth". He added: "It became obvious to me that the long-term interests of the company would be best served by my resignation."