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Nike Removing Joe Paterno’s Name From Company Child-Care Center

Nike Inc. (NKE) said it will remove the name of former Penn State football coach Joe Paterno from the company’s child-care center.

The company’s decision was made after a report by former Federal Bureau of Investigation director and federal judge Louis Freeh said university officials, including Paterno, failed to protect children for a decade from sex abuse by former assistant coach Jerry Sandusky.

“With the findings released today, I have decided to change the name of our child-care center at our World Headquarters,” Mark Parker, the company’s president and chief executive, said in a statement. “My thoughts are with the victims and the Penn State community.”

Sandusky’s abuse could have been stopped in 1998, Freeh said in the report, which followed a seven-month investigation. Paterno, who died in January, was fired in November.

The Joe Paterno Child Development Center on the Beaverton, Oregon, campus of the largest sporting-goods company provides on-site care for more than 200.

To contact the reporter on this story: Scott Soshnick in New York at ssoshnick@bloomberg.net

To contact the editor responsible for this story: Michael Sillup at msillup@bloomberg.net

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