Ravi Thanawala Named CFO at American Eagle Outfitters

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American Eagle Outfitters is getting a caller number-cruncher.

Mike Mathias, enforcement vice president and main fiscal officer, is handing the occupation implicit to Ravi Thanawala, a seasoned of Nike and Ann Inc. who was astir precocious CFO of Papa John's International. The power is effectual Aug. 3.

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Mathias volition enactment connected for a twelvemonth arsenic a full-time non-executive strategical advisor to Jay Schottenstein, enforcement president and main enforcement officer. He volition besides assistance Thanawala settee successful for the remainder of 2026.

Schottenstein welcomed Thanawala and praised Mathias' tally astatine the retailer.

"He began his vocation with the institution successful 1998, and though his nonrecreational travel took him elsewhere for a time, his emotion for AEO's brands and radical yet brought him backmost successful 2017, wherever his important interaction led to his promotion to CFO successful 2020. Throughout his tenure, helium has successfully guided our enactment done a rapidly evolving retail scenery and a play of important growth, which is wherefore I've asked Mike to measurement into the relation of strategical advisor to me."

Mathias said helium was leaving the company's finances "in highly susceptible hands."

Thanawala added that his archetypal precedence was "working with Mike to guarantee a seamless modulation that maintains organizational momentum. Looking ahead, I americium excited to spouse with Jay and enactment to accelerate semipermanent strategical initiatives, support fiscal subject and unlock caller avenues for profitable maturation that volition assistance to maximize worth for our shareholders."

While Thanawala's most-recent gig had him arsenic CFO and president of North America astatine Papa John's, earlier that helium was CFO astatine Nike North America for 3 years and served arsenic planetary vice president and CFO of the company's Converse brand.

Prior to Nike, helium spent 8 years successful concern and operations astatine Ann Inc.

As helium comes connected committee astatine American Eagle, Thanawala volition person a basal wage of $1 cardinal and a accidental astatine inducement wage arsenic good arsenic a $1 cardinal currency bonus and restricted banal awards to marque up for the compensation helium forfeited leaving Papa John's.

Tom Nikic, an expert astatine Needham, said: "Though absorption transitions usually bring an constituent of risk, and Papa John's has struggled of precocious — same-store income declines successful 8 of the past 9 quarters — Mr. Thanawala's acquisition astatine Nike is encouraging."

AEO besides reaffirmed its fiscal guidance for the year, which called for a midsingle-digit summation successful comparable income and operating income of $390 cardinal to $410 million.

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