A poor year for the world’s biggest athletic shoe producer meant that chairman Phil Knight received only $663,000 in bonuses compared with about double that last year. The bonus was over and above Mr Knight’s $1.3 million salary.

The US athletic footwear giant said in June that it had stopped the fall in its US business, but warned that the strong dollar and excess stock would hit earnings. In the fiscal year 2001 sales in the US fell 4% to $3.2 billion.

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