Oakley Hires Nike VP as CEO

Oakley Inc., whose sunglasses are worn by seven-time Tour de France winner Lance Armstrong, on Tuesday named a Nike Inc. vice president as chief executive.

Oakley, based in Foothill Ranch in Orange County, said Scott Olivet would succeed company founder Jim Jannard as CEO next month and also join the board.

Olivet, 43, had served since 2001 as Nike’s vice president for subsidiaries and new business development. The executive, a graduate of Pomona College, previously worked at Gap Inc. and management consulting firm Bain & Co.

Jannard, 56, will remain chairman, the company said. He founded Oakley in 1975.

Oakley shares fell 42 cents, or 2.4%, to $17.36. The stock has risen 36% year to date.