Media365
Indian-origin finance executive Ravi Thanawala has been appointed Chief Financial Officer (CFO) of American Eagle Outfitters, marking another high-profile leadership role for an executive of Indian origin in the global retail industry.
The US apparel retailer announced that Thanawala will join as Executive Vice President and CFO effective August 3, replacing long-serving finance chief Mike Mathias, who will transition into a non-executive strategic advisor role to Chief Executive Officer Jay Schottenstein.
The appointment comes as American Eagle Outfitters looks to strengthen its leadership team while navigating a challenging retail environment and pursuing long-term growth.
Who is Ravi Thanawala?
Thanawala brings more than two decades of experience across retail, apparel and consumer-facing businesses.
Before joining American Eagle, he served as Chief Financial Officer and President, North America, at Papa John’s. He joined the pizza chain in 2023 as CFO, was promoted to CFO and Executive Vice President, International in 2024, and assumed the additional responsibility of leading its North American business in November 2025. During a leadership transition, he also served as the company’s interim Chief Executive Officer.
Prior to Papa John’s, Thanawala spent about three years as Chief Financial Officer of Nike’s North America business, overseeing finance for the sportswear giant’s largest regional market.
Earlier in his career, he held several senior finance and operations roles at ANN, the parent company of brands such as Ann Taylor and LOFT. His responsibilities included overseeing Asia operations, global logistics, international trade and eventually leading finance for the business.
His career has largely been built around helping consumer brands improve financial performance, strengthen operations and drive long-term growth.
American Eagle bets on retail experience
Announcing the appointment, American Eagle CEO Jay Schottenstein said Thanawala’s experience made him well suited for the retailer’s next phase of growth.
“We are pleased to welcome Ravi Thanawala to the executive team. 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.
Thanawala succeeds Mike Mathias, one of American Eagle’s longest-serving executives.
Mathias joined the company in 1998 as a finance manager for stores and operations. After a brief departure in 2016, he returned in 2017 and was appointed CFO in April 2020.
American Eagle said Mathias will work closely with Thanawala through the remainder of fiscal 2026 to ensure a smooth leadership transition before continuing as a strategic adviser to the CEO until July 2027.
Previously faced racist online abuse
Thanawala came into the spotlight last year during his tenure at Papa John’s after the company announced plans to close around 300 underperforming restaurants in North America as part of a restructuring exercise.
While the closures were part of a broader business strategy, some social media users directed racist comments at Thanawala because of his Indian origin. The online abuse drew attention to the racial targeting that senior corporate executives from minority backgrounds can face despite decisions being driven by broader business and market considerations.
His appointment at American Eagle now represents another significant milestone in a career that has included leadership roles at three major consumer brandsv— Nike, Papa John’s and now one of America’s best-known apparel retailers.
