In conjunction with Mr. Frisk's appointment, the company also announced strategic executive changes to align its organizational structure to better leverage its digital business, support its move toward category management, and drive greater operational efficiency across the organization.

As President and COO of Under Armour, Mr. Frisk will have responsibility for the company's go-to-market strategy and the successful execution of its long-term growth plan. He will report directly to Chairman and Chief Executive Officer Kevin Plank.

"Patrik's global experience in brand building, including a proven and disciplined record of driving growth, while enhancing profitability and efficiency, will be instrumental as we work to transform our business model to deliver long-term value for our consumers, customers and shareholders," said Chairman Kevin Plank, adding: "The opportunity to leverage our strengths - innovative product, brand strength, premium sports marketing assets and unparalleled consumer connections - within an increasingly more digital ecosystem has never been greater."

Mr. Frisk has nearly 30 years' experience in the apparel, footwear and retail industry. Most recently, he was CEO of The ALDO Group, a global footwear and accessories company. Previous to that he worked with VF Corporation.