Nike

Nike Names David Denton CFO to Guide Stumbling Turnaround Global Finance Magazine

Former Pfizer executive David Denton steps into the CFO role amid a bruising stock decline.

Nike Inc. said Tuesday it has hired David Denton as its next chief financial officer, tapping the former Pfizer Inc. finance chief to help stabilize a company navigating one of the most difficult stretches in its history.

Denton will join the Beaverton, Oregon-based sportswear giant as Executive Vice President and CFO effective Aug. 17. Matthew Friend, who has held the role since April 2020, will step down on that date and remain in the role through Sept. 4.

Nike Dogged by Rivals, Slumping Share Price

The announcement did little to reassure investors. Nike shares fell 4.5% to close at $42.38 Tuesday, leaving the stock down 33% year to date. The company has been grappling with slowing sales and eroding market share to nimbler rivals such as On Running and Hoka.

CEO Elliott Hill, who took the helm in late 2024, has been working to arrest the slide, but a full recovery has proven elusive.

Whether Denton’s expertise can generate a turnaround remains to be seen. He previously served as CFO and Executive Vice President at Pfizer since May 2022. Before that, he held the same title at Lowe’s Cos. from 2018 to 2022. He also spent two decades at CVS Health Corp., including as CFO during the company’s evolution into a diversified health. In all, he brings more than 30 years of finance and operating leadership across large, complex public companies.

Denton, in a prepared statement, called Nike “one of the world’s great brands.”

“I’m excited to partner with Elliott and the leadership team to support the company’s priorities, invest with discipline, and help deliver sustainable long-term value,” he said.

Hill framed the transition as a strategic inflection point. “This is a natural moment for a leadership transition as we move from foundational actions to sustained growth through our Sport Offense operating model,” he said.

Friend joined Nike in 2009 and rose through roles including CFO of the Nike Brand and VP of Investor Relations before assuming the top finance post. Nike expanded his responsibilities in late 2025 to include Global Sales and Direct-to-Consumer functions.

Prior to Nike, he worked in investment banking at Goldman Sachs and Morgan Stanley.

What’s Next

Nike expects to report fourth-quarter and fiscal year 2026 results on June 30. Analysts anticipate earnings of $0.12 per share on revenue of $10.85 billion, compared with 14 cents per share and $11.1 billion in the prior-year period — a stark illustration of how far the company still has to go. Results will include a one-time benefit from tariff refunds that were not previously factored into the guidance.

Contact the author: anoto@gfmag.com

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Serena Williams pivots quickly to new playing partner for Berlin Open

Serena Williams opted to let Nike break the news about her pro tennis comeback at age 44 in two slick commercials. The abrupt end to her doubles foray at the HSBC Queen’s Club Championships was more muted.

Williams’ playing partner Victoria Mboko injured her left knee in a fall during a singles match Wednesday. The turn of events restricted Williams’ return to tennis to one match, a 7-6(2), 6-2 victory with the Canadian teenager over No. 3 seeds Erin Routliffe and Nicole Melichar-Martinez.

Shed no tears for Williams. She pivoted quickly and will partner with Czech tennis star Karolína Muchová in doubles at the grass-court WTA 500 Berlin Open next week.

“Every tournament I add to my schedule right now feels special, and Berlin is no exception,” Williams said in a statement. “I’m excited to compete in front of the German fans and continue building momentum throughout the grass-court season.”

Another commercial by Nike, her collaborator and business partner of more than two decades, probably isn’t necessary. Williams’ announcement that she would play for the first time since the 2022 U.S. Open came via a pair of clips from the athletic footwear and apparel conglomerate.

One was captioned “good news travels fast.” Talk about buzzy. Her phone makes all sorts of sounds while she’s working out on the court, ending with the text: “Guess everybody heard the news,” and her saying, “I gotta change my number.”

The second is even zanier, a bit with LeBron James and Nike executives pitching a film called “The GOAT’s Goodbye” to Williams, who wants none of it because she still wants to play. James says to the suits, “You’re gonna have to find someone else,” and Williams walks onto the court with racket in hand.

Tagline: “The GOAT’s back.”

For now, her comeback is open-ended. Wimbledon begins June 29 and Williams has not indicated whether she will play. She has 14 titles in the prestigious tournament, six in doubles, one mixed doubles and seven in singles.

Asked shortly after her lone doubles victory at the Queen’s Club why she returned to the tour after a hiatus punctuated by the birth in 2023 of her second child, Adira River Ohanian, Williams shrugged.

“I don’t know, I had nothing better to do,” she said with a smile. “I got tired of sitting at home. My kids are out of school for the summer, so why not?”

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Nike is denied trademark for Bronny James ‘b9’ logo. Here’s why

Nike has been refused a trademark for Bronny James‘ “b9” logo that appears on shoes have been worn in games by the second-year Lakers player and are being sold by the sports apparel giant.

The U.S. Patent and Trademark Office notified Nike of its decision with a letter of refusal earlier this week, citing “likelihood of confusion” with an already-registered mark by the Back9 Golf Apparel company.

“Applicant’s mark, B9, is confusingly similar to the registered mark, B9,” the refusal letter states. “The marks are similar in appearance, sound, and commercial impression. In addition, the marks are essentially phonetic equivalents and, thus, sound similar. Similarity in sound alone may be sufficient to support a finding that the compared marks are confusingly similar.”

Nike did not immediately respond to a request for comment from The Times.

The James logo features a lowercase “b” with a “9” embedded in the center (where a hole normally would be). The Back9 logo has a capital “B” and a “9” of the same size next to each other. The logos are in different fonts.

In its trademark application, filed on Feb. 27, Nike had indicated the intention of using the logo on seemingly all types of athletic apparel, including footwear, headwear, shirts, pants, shorts and jackets. Polo shirts and golf caps were listed among the many specific examples of possible uses.

The refusal letter notes the use of similar or identical language in the description of goods in Back9’s trademark application, which was filed in May 2021 and approved a year later.

“The overriding concern is not only to prevent buyer confusion as to the source of the goods, but to protect the registrant from adverse commercial impact due to use of a similar mark by a newcomer,” the letter states. “Therefore, any doubt regarding a likelihood of confusion determination is resolved in favor of the registrant.

“Here, because the marks are similar and the goods are related and/or legally identical, there is a likelihood of confusion as to the source of applicant’s goods, and registration is refused pursuant to Section 2(d) of the Trademark Act.”

Nike has until July 13 to appeal the decision.

The Lakers, seeded No. 4 in the Western Conference, start their opening-round playoff series against the No. 5 Houston Rockets on Saturday at Crypto.com Arena.

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