Papa Johns exec to become American Eagle's next CFO
American Eagle Outfitters Inc. (AEO) is making a change to its leadership team.
The apparel retailer has announced that Mike Mathias, executive VP and chief financial officer, will transition to serve as a full-time non-executive strategic advisor to Jay Schottenstein, executive chairman of the board and CEO, effective Aug. 3. Mathias has spent a total of 25 years with AEO, and has served as finance chief since April 2020.
Ravi Thanawala will succeed Mathias as chief financial officer, joining the company after three years in the same role at Papa Johns. To ensure a smooth leadership transition, Mathias will collaborate closely with Thanawala through the remainder of AEO’s 2026 fiscal year and continue supporting Schottenstein through July 30, 2027.
“We are pleased to welcome Ravi Thanawala to the executive team,” said Schottenstein. “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.”
In addition to serving as the finance chief since July 2023, Thanawala also served as Papa John’s interim CEO from March 2024 to August 2024. Prior to joining the pizza giant, he was the chief financial officer of Nike North America at Nike Inc. from June 2020 to July 2023. From 2018 to 2020, Thanawala served as the global VP and chief financial officer of the Converse brand.
In tandem with the announcement, AEO reaffirmed its second quarter and full-year 2026 financial guidance, as previously announced in its earnings release on May 28. At the time, AEO said it expected about 25 net closures for its namesake brand in 2026, along with 40 openings for its Aerie and Offline brands. More than 80 American Eagle remodels are planned for the year.
[READ MORE: American Eagle sales surge fueled by strong growth at Aerie; opening 40 stores]
“I have long admired AEO's powerful portfolio of beloved lifestyle brands, including American Eagle and Aerie, as well as the disciplined financial foundation and strong operational framework that Jay, Mike and the team have established,” said Thanawala. “My immediate priority is working with Mike to ensure a seamless transition that maintains organizational momentum.”
AEO Inc. operates stores in the United States, Canada and Mexico through its American Eagle, Aerie, Offline by Aerie, Todd Snyder and Unsubscribed brands. Its merchandise is available in more than 30 countries through a global network of license partners.
