Nike taking Paterno's name off child care center

Penn State coach Joe Paterno stands on the field before his team's NCAA college football game against Northwestern, in Evanston, Ill., Oct. 22, 2011. / P Photo/Jim Prisching

(AP) BEAVERTON, Ore. - The president of Nike Inc. says he has decided to change the name of the Joe Paterno Child Development Center, a child care facility at the company's headquarters.

CEO Mark Parker said Thursday he was deeply saddened by the news coming of the Louis Freeh investigation on the child sex abuse scandal at Penn State. Freeh says Paterno and other top school officials disregarded the welfare of Jerry Sandusky's victims as they failed to report abuse allegations against the longtime assistant coach.

Says Parker: "It is a terrible tragedy that children were unprotected from such abhorrent crimes."

Inside Penn State's decision not to report Sandusky abuse
Freeh: Paterno failed in "actions and words"
Report: Penn State could have stopped abuse in '98

Nike founder Phil Knight, who defended Paterno at the coach's memorial service, says "it appears Joe made missteps that led to heartbreaking consequences."