Hurley International LLC Chief Executive and Founder Bob Hurley is retiring from the company, according to parent company Nike Inc.

General Manager and Vice President Bob Coombes, a Nike veteran who joined the Costa Mesa-based action sports apparel company in August, will take over management of the business. He’ll report to Jayme Martin, Nike’s general manager of global categories.

Hurley, 60, started the Costa Mesa-based company in 1998 after leaving his role as president of Billabong USA, the Irvine unit of Australia’s Billabong International Ltd.

He will transition to a new role, in which he will “focus on building and cultivating the community and extending Nike’s relationships with elite athletes.”

Nike bought Hurley in 2002, for an estimated $120 million.

“Bob is a legend in the surf and action sports industry who grew his passion into a globally recognized brand that stands for creativity, innovation and community,” Nike President and Chief Executive Mark Parker said in a statement. “We look forward to continuing our work together to build the Hurley brand globally.”