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Founder of Under Armour to take on CEO role once again

Mar 15, 2024 United States
Founder of Under Armour to take on CEO role once again
The US-based company has appointed Kevin Plank as President and CEO, effective from the 1st of April. He will succeed Stephanie Linnartz, who has been in the role for just over a year
In connection with this appointment, Mohamed A. El-Erian, an independent director since 2018 and Lead Director since 2020, will become non-executive Chairman of the Board, while Plank will remain a director. Linnartz will remain an advisor to the company until the end of April.

With this move, Plank returns to the role he held from Under Armour’s inception in 1996 until 2019. In January 2020, he was appointed Executive Chair and Brand Chief and Patrik Frisk assumed the role of CEO for two years. Then, came Linnartz.

Under Armour’s founder thanked Linnartz for her contributions, “hard work and dedication”. “During her tenure, she strengthened the leadership team with executive hires in critical areas, including product, design, supply chain, consumer connectivity, and regional management. Her prior experience leading major brands was instrumental in focusing our consumer strategy, including the launch of the US loyalty program, UA Rewards. Her efforts have helped set us on the right path, and we wish her success in her future endeavours”, he shared.

“As the company continues to navigate several post-pandemic consumer, industry, and brand-specific factors, we are working hard to reconstitute our strengths and make thoughtful, balanced business decisions to drive enduring success for athletes, customers, and shareholders. I am energized about the team we have put into place and look forward to seizing the opportunities ahead”, concluded Plank.


Image Credits: inc.com

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