Nike, Inc. reported that after more than 16 years of leading the Hurley brand, Founder Bob Hurley will retire and step down as CEO to transition to a new role, where he will focus on building and cultivating the community and extending Nike’s relationships with elite athletes.

He will leverage more than 40 years of relationships and experiences in his new role.

“Bob is a legend in the surf and action sports industry who grew his passion into a globally recognized brand that stands for creativity, innovation and community,” said Mark Parker, president and CEO, Nike, Inc. “We look forward to continuing our work together to build the Hurley brand globally.”

“Working with Nike, we’ve been able to connect the world’s best surfers with the most innovative products to inspire riders everywhere,” said Bob Hurley. “Now I look forward to focusing on what I love most — spending my time with the community and growing the sport with the athletes that push the limits of what’s possible.”

Longtime Nike veteran Bob Coombes, VP and GM of Hurley, takes on management of the business at Hurley, reporting to Jayme Martin, VP and GM Global Categories, Nike, Inc.