Short answer
Yes, in at least one case, on the report of the NIV's own committee secretary. The Hebrew Bible writes its name for God (﷾), YHWH (often said as Yahweh), nearly 7,000 times. The New International Version (NIV) prints "LORD" instead. Edwin Palmer, secretary of its translation committee, is reported, in a letter quoted in 1979, to have said why. The committee had spent over two million dollars, and a Psalm 23 that began "Yahweh is my shepherd" would hardly sell. The King James Version made the same choice. Islam's answer is the Qur'an. God (﷾) Himself promised to guard it (15:9), and it is recited in the Arabic in which it came down.
Full explanation
Why the NIV prints "LORD"
The Hebrew text writes God's (﷾) name with four letters, YHWH, often said as Yahweh, nearly 7,000 times. The NIV never prints it in its text. It puts "LORD" in its place. Edwin Palmer, the NIV committee's executive secretary, is reported, in a letter quoted in 1979, to have given the reason. He said the committee had put over two million dollars into the translation. A Psalm 23 that began "Yahweh is my shepherd" would throw that away, because hardly anyone would use it. The World English Bible shows the verse can be printed that way. The King James Version made the same choice as the NIV. It printed "Jehovah" in only a handful of verses, such as Exodus 6:3.
Asked why the NIV never renders God's name as Yahweh or Jehovah, Palmer wrote that the committee had put two and a quarter million dollars into the translation, and that rendering Psalm 23 as "Yahweh is my shepherd" would be a sure way to throw that away, because hardly anyone would use it. He added that they were victims of 350 years of King James tradition, and that it was far better to have two million people read the NIV, the number who had bought it, and follow the King James, than to have two thousand buy it with the correct translation of Yahweh.
“Yahweh is my shepherd: I shall lack nothing.”
“A Psalm of David. The LORD is my shepherd; I shall not want.”
“And I appeared unto Abraham, unto Isaac, and unto Jacob, by the name of God Almighty, but by my name Jehovah was I not known to them.”
What the translators said about themselves
The NIV committee describes itself as united in its commitment to the authority and infallibility of the Bible. Its members translate as believers.
The translators' preface says they were united in their commitment to the authority and infallibility of the Bible. It says that many diverse and complex cultural forces keep shifting the meaning of English words, and that among the TNIV's more programmatic changes are the removal of nearly all vocative "O"s and of most generic uses of masculine nouns and pronouns.
A book kept in its own words
The Qur'an says that God (﷾) Himself sent down the message and will guard it. He sent it down in Arabic (12:2), and that Arabic text is the Qur'an. A translation only explains its meaning and is never the Qur'an itself. Muslims recite God's (﷾) name, Allah (﷾), in the Qur'an's Arabic, as it was revealed.
“We have, without doubt, sent down the Message; and We will assuredly guard it (from corruption).”
“We have sent it down as an Arabic Qur'an, in order that ye may learn wisdom.”
The usual defence
Psalms 23:1 — Ketuvim, Tehillim, chapter 23, verse 1
“A Psalm of David. The LORD is my shepherd; I shall not want.”
Cited for
Translators only update the English, and "LORD" for God's name is old tradition, not bias.
The response
Updating the English does not explain this choice. The Hebrew has YHWH nearly 7,000 times, and the World English Bible prints "Yahweh". As for tradition, the NIV's secretary is reported to have spoken of the King James tradition. He is also reported to have named sales as a reason.
Where it lands — The choice was made for readers and sales, not because the Hebrew required it.
Perspectives
Evangelical translators
Committees of believing scholars translate faithfully. Choices such as "LORD" for God's name follow long tradition, and modern wording helps readers without changing doctrine.
The NIV committee says its members were united in their commitment to the authority and infallibility of the Bible.
Rebuttal
That is how the committee describes itself. It does not answer the question about God's (﷾) name. The Hebrew has YHWH nearly 7,000 times, and the secretary is reported to have named sales as a reason for leaving it out.
Printing "LORD" for God's name follows the Jewish practice of reading Adonai in its place. The King James Version kept this practice too.
Rebuttal
The custom is old, and the King James Version kept it. But custom does not explain the NIV's choice. Its own secretary is reported to have named sales as a reason: a Bible with "Yahweh" would hardly sell.
The Islamic perspective
The NIV leaves out YHWH, God's (﷾) name in the Hebrew, which occurs nearly 7,000 times. Its committee secretary is reported to have named the cost and the sales as reasons. Islam teaches that the Qur'an is recited in the Arabic in which it was revealed, and that God (﷾) promised to guard it.
The NIV's committee secretary is reported to have explained why YHWH, God's (﷾) name in the Hebrew, was not printed. He gave cost and fear for sales as reasons.
The Qur'an says God (﷾) Himself guards the message He sent down.