Nike is renaming its world headquarters in Beaverton, Ore. in honor of its co-founder and first employee Phil Knight .

Now known as the Philip H. Knight Campus (PHK), the company said Tuesday that the renamed 400-acre property will serve as a tribute to Knight’s ongoing legacy, as well as a permanent reminder of the founder’s mentality that Nike employees are encouraged to bring to work every day.

Beyond a dedication, the new name “represents a living expression of Nike’s roots and a powerful reflection of Knight’s enduring spirit: restless, bold and forever believing in what’s possible,” the Swoosh said in a statement.

Elliott Hill, president and chief executive officer of Nike, said in an all-staff email to mark his one-year anniversary in the role that this move is “more tha

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