American Eagle Outfitters Names Nike and Papa John's Vet Ravi Thanawala as CFO

American Eagle Outfitters Names Nike and Papa John’s Vet Ravi Thanawala as CFO

✴︎

7.7.2026

Quick Facts

Ravi Thanawala joins American Eagle Outfitters as EVP and CFO effective Aug. 3, 2026, succeeding Mike Mathias after 25 years with the company.
Thanawala previously served as CFO of Nike North America and most recently as CFO and President of North America at Papa John’s International.
Thanawala’s compensation package includes a $1 million base salary, a $1 million sign-on cash bonus, and restricted stock units.

American Eagle Outfitters announced July 2 that Ravi Thanawala will become its next chief financial officer. He fills the seat held by Mike Mathias, who joined AEO in 1998 and was named CFO in April 2020.

Thanawala brings more than two decades of finance and operations experience across retail and consumer brands. At Nike, he served as CFO of Nike North America from June 2020 to July 2023 and as global VP and CFO of the Converse brand from 2018 to 2020. Before Nike, he spent eight years at ANN INC., leading Asia operations, global logistics, and international trade before becoming that subsidiary’s CFO.

Most recently, Thanawala served as CFO and President of North America at Papa John’s International. He also stepped in as Papa John’s interim CEO from March 2024 to August 2024. He resigned from Papa John’s ahead of the AEO announcement. The chain named SVP of corporate finance Christopher Collins as interim CFO effective June 30 while it searches for a permanent replacement.

CEO Jay Schottenstein cited Thanawala’s retail background as the deciding factor. “His extensive retail background, dynamic leadership style and proven track record of delivering operational excellence for consumer-facing brands will position us well for long-term success,” Schottenstein said.

Needham analyst Tom Nikic noted the hire carries some transition risk but backed the appointment. “Mr. Thanawala’s experience at Nike is encouraging,” Nikic said, pointing to Papa John’s same-store sales declines in eight of the past nine quarters as context for the departure.

Mathias will remain with AEO for one year as a full-time non-executive strategic adviser to Schottenstein and will assist Thanawala through the end of 2026. “I leave the finance function in highly capable hands,” Mathias said in the announcement.

The leadership change comes as AEO reports strong financial momentum. The company posted Q4 fiscal 2025 total revenue of $1.8 billion, a 10% increase, with comparable sales up 8%. Q1 fiscal 2026 net revenue also rose 10% to $1.2 billion. Aerie was the standout performer, with Q1 comparable sales up 25% and revenues climbing 34% year over year to $480.8 million. Aerie has now surpassed $2 billion in trailing 12-month revenues.

AEO reaffirmed its fiscal 2026 guidance alongside the leadership announcement, projecting full-year operating profit between $390 million and $410 million. The company returned $341 million to shareholders in 2025 through buybacks and dividends.

Thanawala earned his undergraduate degree in finance and policy economics from NYU Stern, graduating magna cum laude in 2006. In his statement, he said he plans to “accelerate long-term strategic initiatives, maintain financial discipline and unlock new avenues for profitable growth.”