American Eagle Outfitters announced on Wednesday that Ravi Thanawala has been appointed chief financial officer, with the transition to take effect on August 3. The company said Thanawala will arrive from the pizza chain where he has served as chief financial officer since November 2025.
Thanawala's appointment follows a career path that includes a role as chief financial officer of Nike's North America business, a position he held for about three years prior to joining the pizza chain in 2023. American Eagle emphasized that Thanawala will step into the role previously held by Mike Mathias.
Mathias is a long-tenured company executive who first joined American Eagle in 1998 as a manager of finance for stores and operations. Over a 25-year association with the retailer he has occupied several roles, experienced a brief departure in 2016, returned in 2017 and ultimately was named chief financial officer in April 2020.
Once Thanawala assumes the CFO responsibilities on August 3, Mathias will transition to a full-time non-executive strategic advisor position reporting to CEO Jay Schottenstein, the company said. The announcement frames the change as a controlled leadership handoff rather than an immediate departure from the company.
In connection with the leadership update, American Eagle reiterated the financial forecasts it provided in May for the second quarter and full-year 2026. The company did not change or amend the guidance in the announcement.
Context and implications
The announcement identifies a succession plan with an explicit effective date and describes the prior roles of both the incoming and outgoing finance chiefs. It notes Thanawala's most recent finance leadership at a national restaurant chain and his earlier multi-year tenure as Nike North America's CFO. It also records Mathias' multi-decade association with the retailer and his new advisory role to the chief executive.
The company reiterated its previously disclosed second-quarter and full-year 2026 forecast, and did not provide any updated financial projections in the release.