Fanatics names Michener Chandlee new CFO
Online sportswear retailer Fanatics has named Michener Chandlee, Nike’s former corporate audit and chief risk officer, as its new chief financial officer.
Prior to joining Fanatics, Chandlee worked with Nike for over 12 years. In addition to his most recent role as vice president corporate audit and chief risk officer, Chandlee also served as Nike’s vice president CFO global marketplace, vice president CFO and strategy for North America and CFO of emerging markets, throughout the course of his career with the company.
Before joining Nike, Chandlee served as manager of business development and global retail finance at NACCO Materials Handling Group and as manager of budgeting and forecasts at General Motors - Vauxhall Motors.
According to a CNBC report, Fanatics’ latest hire comes as the company targets sales of more than $2.5 billion this year, up from $2.2 billion in 2018.
″[Chandlee] is well-versed in the sports apparel industry and understands the tremendous power of product, brand and technology – giving him the ideal skill set and experience to lead our finance organization as we continue to rapidly scale our vertical, on-demand model globally,” Fanatics CEO Doug Mack said in a statement given to CNBC.
In his new role with Fanatics, Chandlee will replace the company’s current CFO, Lauren Cooks Levitan.
Launched by Michael Rubin in 2011, Fanatics offers a massive online array of sportswear apparel and accessories, and holds licensing deals with major league sports organizations like the NFL, MLB, NHL, NBA and Nascar, in addition to a variety of collegiate partners.
In 2018, Nike, the NFL and MLB signed a licensing deal with Fanatics, which will make the online retailer the exclusive manufacturer and distributor of all Nike-branded NFL and MLB merchandise, with the exception of children’s apparel, beginning in 2020.
The company has experienced rapid growth as a result of its licensing dominance, allowing it to acquire competitors like FansEdge and Majestic. Having raised over $1 billion in financial backing, Fanatics is currently valued at $4.5 billion.
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