Nike: Goodbye, Friend - CFO transition, Q4 guide confirmed

研报英文原文证据摘录

Nike: Goodbye, Friend - CFO transition, Q4 guide confirmed

NSTEIN FLASHMAIL

23 June 2026

Aneesha Sherman

+1 917 344 8457

U.S. Apparel & Specialty Retail aneesha.sherman@bernsteinsg.com

Nike Inc Jessica Tian

+1 917 344 8413

Rating jessica.tian@bernsteinsg.com

Outperform Jed Hodulik

Price Target +1 917 344 8594

jed.hodulik@bernsteinsg.com

NKE 80.00 USD

Nike announced after-market today (link) that Dave Denton will join the company as EVP and CFO effective Aug 17, with current CFO

Matt Friend stepping down at that time and remaining through Sept 4 to support the transition. Friend will transition to an advisor role

to CEO Elliott Hill during this period and remain a full-time non-executive employee through his departure. Friend will also participate in

Nike’s Q4’26 earnings call on June 30, as planned.

Denton’s appointment comes ahead of a critical juncture for Nike, with Win Now actions expected to be finished by the end of

the calendar year and the company shifts back to growth mode into calendar year 2027. He will lead the global finance organization,

partnering with CEO Elliott Hill and the senior leadership team to drive disciplined execution, capital allocation, and long-term value

creation.

Denton joins from Pfizer, where he has served as CFO since May 2022. He brings 30+ years of experience across large-scale public

companies, including prior CFO roles at Lowe’s (2018-22) and CVS Health, where he spent ~20 years helping guide its evolution into a

diversified healthcare platform. He also has public company board experience, with prior roles at Tapestry and Haleon, and is expected

to join the Honeywell Aerospace board post spin-off.

From the 8-K, Denton’s compensation package includes a $1.45m base salary, 120% target bonus, and $11.5m in target annual long-