- Prachi Singh |
Nike has announced retirement of Donald W. Blair, Executive Vice President and Chief Financial Officer, in October 2015. As part of a planned transition, Blair will remain in the CFO role till October 31, 2015 to support smooth transition. Effective August 1, 2015, Blair will be succeeded by Andrew Campion, currently Senior Vice President, Finance, Strategy and Investor Relations at the company.
“Don has been CFO for Nike during a tremendous period of growth for our company,” said Mark Parker, President and CEO, adding, “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.”
Blair has served as Nike’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, the company’s revenue more than tripled, earnings per share have increased six-fold, and the company’s market value has increased over 8 times, delivering top-quartile total shareholder return of 16 percent per year.
“We are pleased Andy will be stepping into the CFO role,” said Mark Parker, adding, “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 its 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 percent of the company’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.