Apple CEO Tim Cook just got a promotion. Well, sort of.
Athletic brand Nike on Thursday named Cook the lead independent director of its board. Cook has been a member of Nike's board of directors since 2005. He is also chair of the board's compensation committee and serves as a member of its nominating and corporate governance committee.
Nike and Apple have a friendly relationship and have worked together since 2006 to develop products, starting with Nike+ Running. The companies were even rumored in 2014 to be collaborating on a smartband, but that was, of course, before the Apple Watch.
Cook's new title was tucked into an announcement that Phil Knight, chairman and co-founder of Nike, has retired from the company's board.