Don Blair will step down in October; Columbia Sportswear had a record year.
BY JACOB PALMER | OB DIGITAL NEWS EDITOR
Nike announced Thursday that its chief financial officer Don Blair will retire in October.
OregonLive.com reports that senior vice president of finance, strategy and investor relations Andrew Campion will assume the role of CFO in August:
“Don has been CFO for NIKE during a tremendous period of growth for our company,” Nike chief executive Mark Parker said in a statement. “Don has been instrumental in shaping our long-term financial strategy and helping us deliver significant value for our shareholders over the last 16 years. I have personally appreciated his thoughtful guidance, his global perspective and his wisdom. He leaves behind a strong team and I know I speak for everyone when I say how very much he will be missed.”
As CFO, Blair has been responsible for strategy, investor relations and finance, including controllership, business and financial planning, treasury, tax, and internal audit. During his tenure, Nike revenue has more than tripled, earnings per share have increased six-fold, and the company’s market value has increased over 8 times. That 16 percent annual return ranks among the top quarter of S&P 500 companies.
The Portland Business Journal also reported on the announcement:
“We are pleased Andy will be stepping into the CFO role,” Parker said in the news release. “I have worked closely with Andy over the last eight years as he has led corporate strategic planning, served as CFO for our flagship Nike brand, and most recently as the head of finance, strategy and (investor relations). We have a strong business plan in place and we look forward to Andy’s leadership in guiding our financial strategy as we continue to drive profitable growth in our business worldwide.”*
Campion joined the company in 2007. He previously worked for the Walt Disney Co. He holds an MBA from UCLA’s Anderson School of Management and a law degree in master’s in tax law from the University of San Diego School of Law.
The PBJ also reported on Nike’s dividend, which will pay out $243 million to investors and $39 million to co-founder Phil Knight:
Nike on Thursday announced a quarterly $0.28 dividend payment to investors, another sign of the company’s strong recent performance and robust balance sheet.
It was the second consecutive quarter for the heightened dividend. The previous four quarters Nike paid a $0.24 dividend.
Columbia Sportswear announced Thursday that 2014 was its best year ever for sales.
OregonLive.com reported on the company’s landmark $2.1 billion in annual sales:
“2014 was an outstanding year for Columbia Sportswear Company,” chief executive Tim Boyle said in a statement, “reflecting strong momentum in North America in the Columbia, Sorel and prAna brands. In addition, despite mild winter weather, we produced 10 percent growth in the Columbia brand in our Europe-direct markets, led by strong sales of trail footwear and outerwear.”
And, despite “geo-political issues, West Coast port disruptions, and a stronger U.S. dollar,” Boyle said, “we enter 2015 with excellent momentum behind our brands, fueling our expectations that 2015 will be another year of record net sales, and also a record year for net income. “
PBJ provided a brief breakdown of the numbers:
Net income for the year increased 45 percent to $137.2 million, or $1.94 per share.
The company handily beat Wall Street estimates for sales and profits. Analysts polled by Thomson Financial expected $2.06 billion in annual sales and earnings per share of $1.82.
