Nike has named David M. Denton as its next executive vice president and chief financial officer, effective August 17. Denton joins from Pfizer, where he has served as CFO since May 2022, and replaces Matthew Friend, who will step down and remain through September 4 to support the transition.
The hire
Denton, 60, brings a CFO résumé built outside the sportswear industry. Before Pfizer, he held the same title at Lowe's and spent two decades at CVS Health in finance leadership. Nike is betting that financial discipline from pharma and retail — sectors defined by complex global supply chains and margin management — translates to a consumer brand mid-turnaround.
The context
The appointment is another piece of Elliott Hill's leadership overhaul since returning as CEO in October 2024. Hill has already created a new COO role while eliminating the CTO and CCO positions, and insiders have put $4.45 million of their own money into Nike stock as a confidence signal behind the "Win Now" strategy. Denton will lead the global finance organization and partner with Hill on capital allocation and long-term value creation as Nike works to reverse declining revenue and rebuild retail partnerships.
Sources: Nike Newsroom, Bloomberg
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