Nike on Monday said Larry Miller, who announced his resignation as president of the Portland Trail Blazers Saturday, will take over as president of the company's Jordan Brand.
It's Miller's second stint leading the lucrative basketball brand for the Washington County sporting goods giant (NYSE: NKE).
Miller, 61, served as Jordan Brand president from 1999 to 2006 and before that held positions as vice president and general manager of Nike basketball, where he oversaw operations for Jordan, Converse and Nike basketball products.
“It’s great to have Larry return to the Jordan Brand at such an exciting time. He is a strong leader, knows our brand and understands how to accelerate the growth of a premium business," Michael Jordan, the brand's namesake, said in a news release.
Miller announced his resignation from the Blazers on Saturday , calling his time with the team "an incredible experience."
At Nike, Miller will report to Trevor Edwards, the company's vice president of global brand and category management. He replaces Keith Houlemard, who leaves Jordan to oversee Nike's Olympic business as the brand's global general manager.
The Jordan Brand is, alongside the Nike brand, among the world's biggest basketball brands and a key component to a Nike basketball business that increased wholesale revenue last year by 17 percent to $2.2 billion.
At the end of June, Nike controlled 92 percent of the U.S. basketball market, led by Jordan's 56.5 percent share of the market, according to Matt Powell, an analyst with Charlotte, N.C.-based research firm SportsOneSource last week said Jordan.
“The Jordan Brand continues to drive strong momentum in the marketplace and we look forward to Larry expanding our market leadership while delivering Jordan Brand experiences that connect deeply with future generations," Edwards said in a news release.
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