When the world’s largest athletic apparel and equipment company makes a statement, people listen. That company, Nike, just made a big announcement about Juneteenth — the oldest national celebration commemorating the official end of slavery. Here’s what you need to know.

John Donahoe, CEO of the Nike sports apparel empire since January 2020, announced that the company’s US employees will have Juneteenth off as an annual paid holiday, beginning in 2020, reports Newsweek. In an internal memo released June 11, 2020, according to Oregon Live, Donahoe wrote, “For more than 40 years, our brand has celebrated incredible Black athletes and inspired millions of people all over the world by amplifying their excellence. When we say that Black Lives Matter, it applies to the world outside of Nike and, importantly, it applies to our Black teammates within Nike. Simply put, we need to hold ourselves to a high standard given the heritage of our company and our brand.” He also announced that company leadership will be held accountable to ensure proper representation of black, Latinx, and women.

Per a report on CNN, Twitter and Vox Media have made similar announcements instituting the holiday for employees.

Forbes reports that Nike’s plans include the launch of what it terms “a diversity education program,” with “two weeks of programming and learning opportunities for all employees specific to racial inequality.”

The history of Juneteenth

Scott Taetsch/Getty Images