Ravi Thanawala Named CFO at American Eagle Outfitters

American Eagle Outfitters is getting a new number-cruncher. 

Mike Mathias, executive vice president and chief financial officer, is handing the job over to Ravi Thanawala, a veteran of Nike and Ann Inc. who was most recently CFO of Papa John’s International. The switch is effective Aug.  3.

Mathias will stay on for a year as a full-time non-executive strategic adviser to Jay Schottenstein, executive chairman and chief executive officer. He will also help Thanawala settle in for the rest of 2026.

Schottenstein welcomed Thanawala and praised Mathias’ run at the retailer. 

“He began his career with the company in 1998, and though his professional journey took him elsewhere for a time, his love for AEO’s brands and people ultimately brought him back in 2017, where his significant impact led to his promotion to CFO in 2020. Throughout his tenure, he has successfully guided our organization through a rapidly evolving retail landscape and a period of significant growth, which is why I’ve asked Mike to step into the role of strategic adviser to me.”

Mathias said he was leaving the company’s finances “in highly capable hands.” 

Thanawala added that his first priority was “working with Mike to ensure a seamless transition that maintains organizational momentum. Looking ahead, I am excited to partner with Jay and leadership to accelerate long-term strategic initiatives, maintain financial discipline and unlock new avenues for profitable growth that will help to maximize value for our shareholders.”

While Thanawala’s most-recent gig had him as CFO and president of North America at Papa John’s, before that he was CFO at Nike North America for three years and served as global vice president and CFO of the company’s Converse brand. 

Prior to Nike, he spent eight years in finance and operations at Ann Inc.

As he comes on board at American Eagle, Thanawala will receive a base salary of $1 million and a chance at incentive pay as well as a $1 million cash bonus and restricted stock awards to make up for the compensation he forfeited leaving Papa John’s. 

Tom Nikic, an analyst at Needham, said: “Though management transitions usually bring an element of risk, and Papa John’s has struggled of late — same-store sales declines in eight of the past nine quarters — Mr. Thanawala’s experience at Nike is encouraging.”

AEO also reaffirmed its financial guidance for the year, which called for a midsingle-digit gain in comparable sales and operating income of $390 million to $410 million.