BALTIMORE, Oct. 22, 2019 /PRNewswire/ -- The Board of
Directors of Under Armour, Inc. (NYSE: UA, UAA) today
announced that President & Chief Operating Officer (COO)
Patrik Frisk will become the
company's Chief Executive Officer (CEO), effective Jan. 1, 2020. Frisk, 56, will serve as CEO &
President, reporting to Kevin Plank
and will join Under Armour's Board of Directors. Plank, having
served as Chairman and CEO since he founded the company in 1996,
will become Executive Chairman & Brand Chief continuing to lead
Under Armour's Board of Directors while focusing on product
elevation, amplifying the brand story and stewarding the company's
strong team culture.
"Our multi-year, transition approach has ensured purposeful
leadership continuity. Patrik is the right person to serve as Under
Armour's next CEO," said Plank. "As my partner during the most
transformative chapter in our history, he has been exceptional
in his ability to translate our brand's vision into world-class
execution by focusing on our long-term strategy and re-engineering
our ecosystem through a strategic, operational and cultural
transformation."
Plank continued, "Having earned the trust and respect of our
teammates, customers and shareholders, Patrik's proven track record
of industry experience, straightforward leadership style and
championship of our brand and culture makes him uniquely positioned
to smartly capitalize on the opportunities in front of us. As I
envision our future – I look forward to further partnering with
Patrik to continue our pursuit of becoming the best athletic brand
in the world. I am confident that we are just getting started."
Under Armour President & COO Patrik
Frisk added, "I joined Under Armour to be part of an iconic
brand that demonstrated the power of sport and premium experience,
when properly harnessed, is capable of unlimited possibilities.
Today, I am even more resolute in this conviction. The opportunity
that lies ahead of us is incredible. As our entire global team
continues to lean hard into our transformation, I am honored to
lead this great brand toward the realization of its full
potential."
Mr. Frisk joined Under Armour in 2017 following nearly 30 years
of experience in the apparel, footwear and retail industry. Prior
to Under Armour, he was CEO of The ALDO Group, a global footwear
and accessories company. Previous to that, he spent more than a
decade with VF Corporation where he held numerous leadership
positions including Coalition President of Outdoor Americas (The
North Face® and Timberland®), President of
the Timberland® brand, President of Outdoor & Action
Sports (EMEA), and Vice President and General Manager of The North
Face®.
About Under Armour, Inc.
Under Armour, Inc., headquartered in Baltimore,
Maryland, is a leading inventor,
marketer and distributor of branded athletic performance apparel,
footwear and accessories. Powered by one of the world's
largest digitally connected fitness and wellness communities, Under
Armour's innovative products and experiences are designed to help
advance human performance, making all athletes better. For
further information, please
visit https://about.underarmour.com.
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SOURCE Under Armour, Inc.