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Nike’s Surprise CFO Change ‘Another Tangible Signal’ of Turnaround Progress
The former Pfizer finance chief will replace Matt Friend on Aug. 17 as Nike pursues a turnaround and a tariff refund this quarter.
- On Tuesday, Nike named Pfizer executive Dave Denton as its next chief financial officer and announced it will book a tariff refund in the current quarter's financial results.
- Since taking over in 2024, CEO Elliott Hill has reshaped Nike's senior leadership ranks to return the company to its athletic roots and address weak demand in key markets.
- Denton brings more than 30 years of experience from Pfizer, CVS, and Lowe's; Nike previously noted it paid about $1 billion in tariffs on imports into the U.S.
- Nike shares climbed about 1% in after-hours trading following the announcement; Denton officially succeeds Matt Friend on August 17, while Friend remains until September 4 for transition support.
- Friend will participate in Nike's fourth quarter fiscal 2026 earnings call on June 30 as the company shifts from foundational actions to sustained growth through its Sport Offense operating model.
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15 Articles
Nike says it's getting a tariff refund
Nike on Tuesday named an outside executive as the company’s next chief financial officer and said it will book a tariff refund in the current quarter’s financial results, sending its bruised stock slightly higher in after-hours trading.
·Portland, United States
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Coverage Details
Total News Sources15
Leaning Left2Leaning Right0Center5Last UpdatedBias Distribution71% Center
Bias Distribution
- 71% of the sources are Center
71% Center
L 29%
C 71%
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