NKE Stock Gains 2% After-Hours - Nike Names New CFO And Reaffirms Outlook
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Shares of Nike Inc (NKE) gained more than 2% in after-hours trading on Tuesday after the company announced a new Chief Financial Officer (CFO) and reaffirmed its guidance ahead of its fourth-quarter results. Nike said David M. Denton will join the company as Executive Vice President and CFO effective August 17. Matthew Friend will step down from the role at that time and remain with the company through September 4 to support an orderly transition. Denton joins Nike from Pfizer, where he has served as Chief Financial Officer and Executive Vice President since May 2022. He will lead Nike's global finance organization and partner with President and Chief Executive Officer Elliott Hill and the Senior Leadership Team to support disciplined execution, capital allocation and long-term value creation. Hill said Denton's experience, judgment and operating rigor would help the company execute its priorities and build on its ongoing progress. Denton has more than 30 years of finance and operating leadership experience across global public companies. Before joining Pfizer, he served as Chief Financial Officer and Executive Vice President at Lowe's from 2018 to 2022. Earlier in his career, he spent two decades at CVS Health, including as Executive Vice President and Chief Financial Officer. Nike also provided an update on its...
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