Nike Names Pfizer's Denton as Next CFO

By Elias Schisgall

Nike appointed David Denton as its next chief financial officer, bringing in the Pfizer executive to oversee finances for the beleaguered sneakers and apparel company.

Denton's appointment is effective Aug. 17, the company said Tuesday. He is expected to succeed Matthew Friend, who will stay on through Sept. 4 to support the transition.

"Dave is a proven public-company CFO who knows how to help great consumer brands operate with discipline and invest to win," Chief Executive Elliott Hill said.

The new appointment comes as Nike is struggling to execute a turnaround under Hill, with sales dropping in the company's key China market and weakness in the Europe, Middle East, and Africa region.

Nike said in late March that it was expecting sales to fall by low-single digits through the end of the year. For the current quarter, it guided for a 2% to 4% sales decline, which includes a 20% sales drop in China.

The company said Tuesday that it expects to report a one-time benefit from tariff refunds when it reports its fourth-quarter financial results later this month.

It is also facing pressure from the Trump administration over its corporate diversity practices. The Equal Employment Opportunity Commission opened an investigation into the company in February to probe whether it discriminated against white workers.

Denton joined Pfizer as CFO in May 2022. Before that, he served stints as CFO of Lowe's and CVS Health.

Write to Elias Schisgall at elias.schisgall@wsj.com

(END) Dow Jones Newswires

June 23, 2026 16:34 ET (20:34 GMT)