American Eagle Outfitters has hired Ravi Thanawala, who resigned Tuesday as CFO of Papa John’s International, to succeed long-time finance chief Michael Mathias effective August 3. Mathias, who served six years as CFO and 25 years at the retailer, will transition to a non-officer role as strategic advisor to CEO Jay Schottenstein. Thanawala abruptly left Papa John’s after three years, having joined from Nike, and will not receive severance; Christopher Collins has been named interim CFO. At American Eagle, Thanawala’s compensation includes a $1 million annual base salary and a sign-on award of a $1 million cash bonus plus restricted stock units, tied to forfeited pay from his previous employer. The company, which reaffirmed its second-quarter and full-year guidance, faces headwinds including a 2% drop in first-quarter comparable sales for its American Eagle brand.
American Eagle Outfitters IncHires new CFO with compensation package, reaffirms guidance, but faces sales decline.
Papa John's International IncCFO abruptly resigns, no severance, interim CFO appointed.
Nike Inc