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Dropbox Brings in Former Nike Financial Officer

DropboxDropbox has announced that former Nike chief financial officer (CFO) Don Blair is now a member of the company’s board of directors.

In a statement on its website, the file syncing platform said Blair “brings more than three decades of financial and management expertise on a global scale.”

Blair would also join the audit committee of the board.

Blair’s entry in Dropbox comes after noted enterprise executive Quentin Clark joined the company as senior vice president of engineering, product, and design.

(Read: Longtime Enterprise Exec Quentin Clark Joins Dropbox as Engineering, Product and Design SVP)

Before joining Nike, Blair was PepsiCo’s financial executive and as such as he was assigned to PepsiCo Japan in Tokyo as CFO and he held the same post in Pepsi-Cola International’s Asia Division in Hong Kong.

One of the Best CFOs

Blair is in Standard & Poor’s 500 best CFOs in the world.

During his stint at Nike, the sportswear company’s revenue grew more than three times while its market value rose more than eight-fold.

With his expertise, Dropbox CEO Drew Houston believes that Blair can contribute a lot to the company, pointing out that Blair “knows how to build a sustainable business for the long-term, and we’re looking forward to drawing on his expertise as we continue to grow and scale our company.

Blair is joining Dropbox just as the company has set an initial public offering (IPO) soon.

IPO Papers

TechCrunch said there are reports that Dropbox has started collaborating working with banks to prepare IPO papers – deemed as an initial step towards going public.

Dropbox, however, has no problem selling itself to potential investors as TechCrunch noted that the company has over 500 million registered users and it made $1 billion in revenue last January.

The company also recently changed its brand design – from pencil drawings to a profusion of colors and a new typeface.

(Read: Dropbox Brand Update Streamlines Its Logo and Takes Aim at Creatives)

What’s Next?

Former Nike chief financial officer Don Blair has joined Dropbox and is expected to help the company prepare to go public.

What can you say about this development? Share your comments below.

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