Nike Inc. is making more changes to its leadership team.
Its latest change impacts Nike’s global finance organization. Long-time executive vice president and chief financial officer Matthew Friend will step down, and he will be succeeded by David M. Denton, effective Aug. 17. Friend will remain with the company through Sept. 4 to “support an orderly transition.” Friend will also participate in Swoosh’s fourth quarter fiscal 2026 earnings call on June 30.
Nike said Denton will partner with president and chief executive officer Elliott Hill and the senior leadership team to “support disciplined execution, capital allocation, and long-term value creation.”
According to Nike, Denton is currently CFO at Pfizer since May 2022, and before that held CFO positions at Lowe’s Companies Inc. and CVS Health. His LinkedIn profile indicates he was also a a senior manager at the accounting firm Deloitte, when it was still known as Deloitte & Touche.
“He brings more than 30 years of finance and operating leadership experience across complex global public companies,” Nike said, adding that Denton also brings public company corporate governance experience. He was previously on the Boards of Haleon from 2023-2024 and Tapestry from 2014 to 2023. He is also expected to serve on the Board of Honeywell Aerospace after its planned spin-off from Honeywell.
“Dave is a proven public-company CFO who knows how to help great consumer brands operate with discipline and invest to win,” Hill said in a statement. “We’re focused on doing what Nike does best: serving athletes, leading with sport and building the most innovative products in the world.”
Hill added that Denton’s “experience, judgment and operating rigor” will help the company execute against its priorities with “consistency and build on the progress underway.” Nike’s CEO also said that the timing was right for a leadership transition as the company move from “foundational actions to sustained growth through our Sport Offense operating model.” He also thanked Friend for his many contributions to Nike over the years and wished him “all the best in his next chapter.”
“Nike is one of the world’s great brands, with extraordinary strengths in support, innovation, and global scale,” Denton said, adding that he was looking forward to partnering with Hill and the leadership team to support the firm’s priorities.
Hill made some bold moves last December when leadership changes were made to align with the firm’s “Win Now” strategy. In an open letter to staff, he said the moves were to give “sales and Nike Direct an even stronger voice in how we set strategy and invest,” with the changes removing layers so Nike could be “closer to athletes and the marketplace.”
More recently in January, César Garcia became Nike’s new vice president and general manager of EMEA on Feb. 2, following the retirement of Carl Grebert after 30 years. Cathy Sparks was named vice president and general manager of Greater China, with Angela Dong stepping down from her role as CEO of Nike Greater China on March 31.
When Nike posted third quarter results on March 31, it was learned that China wasn’t Nike’s only concern as Europe remained “highly promotional.” Swoosh has been in turnaround mode, but analysts think the company will need more time than initially expected. The Beaverton, Ore.-based firm said that net income in the third quarter of fiscal 2026 fell 35 percent to $520 million from $794 million in the year-ago period. Diluted earnings per share dropped to 35 cents from 54 cents. Net sales were flat at $11.3 billion, and down 3 percent on a currency-neutral basis.
