PRINCETON, N.J. --NIKE, Inc. and Princeton University are pleased to announce the establishment of The Ralph DeNunzio '53 and Nike Endowment Fund for Princeton Athletics. The fund, seeded by a $700,000 gift from Nike, was established in honor of Ralph DeNunzio, a 1953 graduate of Princeton and a member of Nike's Board of Directors for more than 20 years. The fund will be used to support Princeton University's athletics program, including the University's football, basketball, baseball/softball, soccer, field hockey, ice hockey and swimming teams.

"Ralph's significant contributions over the last two decades have helped shape NIKE, Inc. into the company it is today. As Chairman of the Compensation and Nominating and Corporate Governance committees, Ralph's strong leadership has been instrumental in setting a path for NIKE's long-term success, and his efforts as a member of the Finance Committee have provided a lasting impact on the company's financial structure and management. We are delighted to be able to honor him in this way," said Mark Parker, President & CEO of NIKE, Inc.

"We are grateful to Nike for providing support that will help our student-athletes reach their highest potential as our department pursues its mission of ‘education through athletics,'" said Gary Walters, Princeton's Ford Family Director of Athletics and a member of the University's Class of 1967.

"This gift brings together two institutions that have had a special influence and importance in my life-Princeton and NIKE," said Ralph DeNunzio. "The philosophical underpinnings of Princeton's Department of Athletics under the direction of Gary Walters - a desire for excellence, respect for colleagues, fair play, teamwork, leadership, perseverance, and integrity-makes it a worthy recipient of this gift from NIKE, and I am very grateful to NIKE for it."

DeNunzio joined the NIKE board in 1988 and served as Chair of the board's Compensation, Nominating and Corporate Governance Committees, and a member of its Finance Committee.

About NIKE, Inc., based near Beaverton, Oregon, is the world's leading designer, marketer and distributor of authentic athletic footwear, apparel, equipment and accessories for a wide variety of sports and fitness activities. Wholly owned Nike subsidiaries include Converse Inc., which designs, markets and distributes athletic footwear, apparel and accessories; Cole Haan, which designs, markets and distributes luxury shoes, handbags, accessories and coats; Umbro Ltd., a leading United Kingdom-based global football (soccer) brand; and Hurley International LLC, which designs, markets and distributes action sports and youth lifestyle footwear, apparel and accessories.

Release courtesy Princeton Athletic Communications