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Nike hires former Coca-Cola executive Craig Williams as Jordan Brand president

Air Jordan shoes on display at the Nike headquarters showroom.
Jessica Golden | CNBC

Nike on Tuesday named former Coca-Cola executive Craig Williams as president of its sports shoes unit Jordan Brand.

Williams, who will take charge on Jan. 14, most recently headed the world's biggest beverage maker's partnership with fast-food chain McDonald's.

He will replace Larry Miller who will become the chairman of the newly created Jordan Brand advisory board, Nike said.

Jordan Brand is a premium brand of footwear, apparel and accessories inspired by the legacy of former basketball player Michael Jordan.

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Snap subpoenaed by Justice Department over its IPO disclosures

Key Points
  • The U.S. Justice Department and Securities and Exchange Commission have subpoenaed Snap for information about its March 2017 initial public offering.
  • Snap said in a statement it has responded to the government subpoenas and other requests for information.
  • Snap said it believes that the federal regulators "are investigating issues related to the previously disclosed allegations asserted in the class action about our IPO disclosures."