NIKE Announces Donald W. Blair to Retire as Chief Financial Officer
February 12, 2015
NIKE, Inc. (NYSE: NKE) announced today that Donald W. Blair, Executive Vice President and Chief Financial Officer will retire from NIKE in October 2015. As part of a planned transition, Blair will remain in the CFO role through July 31, 2015, and will remain with the company through Oct. 31, 2015 in support of the transition. Effective Aug.1, 2015, Blair will be succeeded by Andrew Campion, currently Senior Vice President, Finance, Strategy and Investor Relations for NIKE, Inc.
“Don has been CFO for NIKE during a tremendous period of growth for our company,” said Mark Parker, President and CEO of NIKE, Inc. “Don has been instrumental in shaping our long-term financial strategy and helping us deliver significant value for our shareholders over the last 16 years. I have personally appreciated his thoughtful guidance, his global perspective and his wisdom. He leaves behind a strong team and I know I speak for everyone when I say how very much he will be missed.”
Blair has served as NIKE, Inc.’s CFO since 1999, with responsibility for strategy, investor relations and finance, including controllership, business and financial planning, treasury, tax, and internal audit. During his tenure, NIKE, Inc. revenue has more than tripled, earnings per share have increased 6-fold, and the Company’s market value has increased over 8 times, delivering top-quartile total shareholder return of 16% per year.
“We are pleased Andy will be stepping into the CFO role,” said Mark Parker. “I have worked closely with Andy over the last 8 years as he has led corporate strategic planning, served as CFO for our flagship NIKE brand, and most recently as the head of finance, strategy and IR. We have a strong business plan in place and we look forward to Andy’s leadership in guiding our financial strategy as we continue to drive profitable growth in our business worldwide.”*
Campion joined NIKE in 2007 as the Vice President of Global Planning and Development, responsible for managing NIKE’s long-range financial and strategic planning. In 2010, Campion became CFO of the NIKE Brand, responsible for leading all aspects of financial management for nearly 90% of NIKE’s business. In 2014, he was promoted to SVP, Finance, Strategy and Investor Relations, while also maintaining his responsibilities as CFO of the NIKE Brand. Prior to NIKE, Campion served with the Walt Disney Company from 1996 to 2007, in a number of finance leadership roles of increasing responsibility, most recently as Senior Vice President, Corporate Development. Campion holds an M.B.A. from UCLA’s Anderson School of Management and a J.D. and LL.M. in Taxation from the University of San Diego School of Law.
NIKE, Inc. based near Beaverton, Ore., is the world’s leading designer, marketer and distributor of authentic athletic footwear, apparel, equipment and accessories for a wide variety of sports and fitness activities. Wholly-owned NIKE, Inc. subsidiaries include Converse Inc., which designs, markets and distributes athletic lifestyle footwear, apparel and accessories and Hurley International LLC, which designs, markets and distributes surf and youth lifestyle footwear, apparel and accessories. For more information, visit Nike News and follow @Nike.
* The marked paragraphs contain forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties are detailed from time to time in reports filed by NIKE with the S.E.C., including Forms 8-K, 10-Q, and 10-K. Some forward-looking statements in this release concern changes in futures orders that are not necessarily indicative of changes in total revenues for subsequent periods due to the mix of futures and “at once” orders, exchange rate fluctuations, order cancellations, discounts and returns, which may vary significantly from quarter to quarter, and because a significant portion of the business does not report futures orders.