Nike Inc. has completed the sale of Cole Haan to Apax Partners for $570 million. As planned, Jack Boys, who has run Converse for ten years, has been appointed chief executive of Cole Haan. He previously served as vice president of global marketing for The North Face. The American shoe company takes its name from Trafton Cole and Eddie Haan, who set it up 85 years ago. It has single-brand stores in North America, China and Japan, but not in Europe, where it has a much smaller presence than Converse, creating major opportunities for further development.