Matthew Friend
Summary
Matthew Friend has served as NIKE's Executive Vice President and Chief Financial Officer since April 1, 2020 and is scheduled to step down on August 17, 2026, remaining through September 4 to support the transition. ([sec.gov](https://www.sec.gov/Archives/edgar/data/320187/000032018720000008/nke0218208k.htm?utm_source=openai))
Biography
Friend joined Nike in 2009 in Corporate Strategy and Development and later became CFO of Emerging Markets, CFO of Global Categories, Product and Functions, and CFO of the Nike Brand. He also served as Nike's vice president of Investor Relations before becoming company CFO. Prior to Nike, he held investment-banking and mergers-and-acquisitions roles at Goldman Sachs and Morgan Stanley. ([investors.nike.com](https://investors.nike.com/default.aspx?LanguageId=1&SectionId=1699651a-428e-4d77-9df4-973d389ab618)) Friend earned a bachelor's degree in business administration from the University of California, Berkeley, where he played baseball as a pitcher. As CFO, he has overseen finance and related enterprise functions while helping manage inventory, costs, channel changes and the company's recovery efforts. Nike announced in June 2026 that David M. Denton would become CFO effective August 17, 2026, with Friend staying briefly to support an orderly handoff. ([investors.nike.com](https://investors.nike.com/default.aspx?LanguageId=1&SectionId=1699651a-428e-4d77-9df4-973d389ab618))
Notable achievements
- Built a broad Nike finance career across corporate strategy, emerging markets, global categories, the Nike Brand and Investor Relations. ([investors.nike.com](https://investors.nike.com/default.aspx?LanguageId=1&SectionId=1699651a-428e-4d77-9df4-973d389ab618))
- Helped guide Nike's finance organization through the company's Consumer Direct Acceleration period and subsequent business reset. ([investors.nike.com](https://investors.nike.com/investors/news-events-and-reports/investor-news/investor-news-details/2022/NIKE-Inc.-Reports-Fiscal-2023-First-Quarter-Results/default.aspx?utm_source=openai))
- Oversaw capital-return activity during his tenure; Nike reported approximately $5.3 billion returned to shareholders in fiscal 2025, including dividends and share repurchases. ([investors.nike.com](https://investors.nike.com/investors/news-events-and-reports/investor-news/investor-news-details/2025/NIKE-Inc--Reports-Fiscal-2025-Fourth-Quarter-and-Full-Year-Results/default.aspx))
- Participated in actions to reduce inventory and reposition the product portfolio as Nike shifted toward new product launches and stronger wholesale relationships. ([investing.com](https://www.investing.com/news/stock-market-news/nike-beats-quarterly-revenue-estimates-as-discounts-draw-demand-3348639?utm_source=openai))
- Serves as a director of United Airlines Holdings, Inc. and has finance experience from both Nike and major investment banks. ([investors.nike.com](https://investors.nike.com/default.aspx?LanguageId=1&SectionId=1699651a-428e-4d77-9df4-973d389ab618))
Problem areas / controversies
- During Friend's CFO tenure, Nike faced substantial financial pressure; fiscal 2025 revenue fell 10%, net income fell 44% and gross margin declined 190 basis points. ([investors.nike.com](https://investors.nike.com/investors/news-events-and-reports/investor-news/investor-news-details/2025/NIKE-Inc--Reports-Fiscal-2025-Fourth-Quarter-and-Full-Year-Results/default.aspx))
- Nike's inventory buildup and subsequent discounting contributed to margin pressure and required a product and channel reset. ([investing.com](https://www.investing.com/news/stock-market-news/nike-beats-quarterly-revenue-estimates-as-discounts-draw-demand-3348639?utm_source=openai))
- The direct-to-consumer strategy weakened during the reset, with Nike Direct revenue down 13% and Nike Brand Digital revenue down 20% in fiscal 2025. ([investors.nike.com](https://investors.nike.com/investors/news-events-and-reports/investor-news/investor-news-details/2025/NIKE-Inc--Reports-Fiscal-2025-Fourth-Quarter-and-Full-Year-Results/default.aspx))
- Nike announced a planned CFO replacement effective August 17, 2026; the company described it as a transition from foundational actions to sustained growth rather than citing a personal misconduct or regulatory issue. ([about.nike.com](https://about.nike.com/en/newsroom/releases/nike-inc-announces-planned-cfo-transition))