US sportswear brand Under Armour has announced that Kevin Plank will reassume the role of president and chief executive (CEO) from April 1.
Plank will succeed Stephanie Linnartz, who will be stepping down as president, CEO, and a member of the board. She will remain an advisor to the company through April 30.
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As part of the reshuffle, Plank, who will transition from executive chair of the board, will remain a director.
Linnartz joined Under Armour in February 2023. Before her arrival, the brand's chief operating officer (COO) Colin Brownie had been serving in those positions on an interim basis.
The permanent CEO and president roles had been vacant since May 2022 when the previous incumbent Patrik Frisk stepped down.
Frisk, who was previously the president and COO, was promoted to CEO in 2019 to succeed Plank who switched to executive chairman and brand chief.
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By GlobalDataPlank founded Under Armour in 1996 and served as CEO and chair of the board of directors until he handed the reins to Frisk.
Plank said: “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.”
As part of another leadership transition, Under Armour also announced that Mohamed A. El-Erian will become the non-executive chair of the board.
Since 2014, El-Erian has served as chief economic advisor at insurance giant Allianz.
Last month (February), Under Armour appointed Kevin Ross as its new senior vice president and managing director of EMEA.
Last June, meanwhile, the brand made several changes to its senior executive leadership team as part of a new strategy to increase profits.
Under the restructure, it appointed Jim Dausch as executive vice president and chief consumer officer and promoted Danny Miles to executive vice president and chief technology officer.
