Live in the NASDAQ market tight overlooking New York City's Times Square.

This is Fast Money. I'm Melissa Lear.

Traders on the desk for Steve Grasso.

Karen Vinerman, Dan Nathan, and Guy Dami.

Tonight on Fast, we are following major new developments out of Boeing.

The head of the company's commercial airplane unit is out.

We'll bring you all the late breaking details, plus earnings alerts on Snap, Chipotle, Texas Instruments, all three stocks on the move after reporting results

will break down all the big headlines.

And Biogen posting its best day in 20 years after its Alzheimer drug shows new promise

more in this breakthrough breakout.

But we begin with the breaking news on Nike.

The company CEO Mark Parker is stepping down.

Parker will be replaced by Nike board member and service now CEO John Donahoe.

The changes take place in the new year.

Parker will become Nike's executive chairman.

We just heard from Parker exclusively on the closing bell.

We've spent a lot of time over many months working on succession planning.

So this is not something that happens in a matter of weeks.

So it's really unrelated to Oregon Project or any other issues. This is really

about me and the board really wanting to make the, you know, build on the momentum that we've got you know add the horsepower

accelerate against our strategy and do it while I'm here and really in a position to

lean in and make this as successful as possible.

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