Under Armor founder Kevin Plank was interviewed by CNBC’s “Mad Money” on February 28, 2018.
Scott Mill | CNBC
Under Armor It was announced on Wednesday that CEO Stephanie Linnartz has resigned after more than a year on the job, and that founder Kevin Plank will return as CEO of the brand.
Linnartz will take over as CEO of Under Armor in February 2023 after nearly 30 years at Marriott International, most recently as president. Plank founded Under Armor in 1996 and resigned as CEO about four years ago but remains chairman of the athletic company.
Plank will take over on April 1, and Linnartz will serve as an advisor to the company until the end of April.
Plank will remain a director on Under Armor’s board of directors, but will hand over the chairmanship to Mohamed El-Erian, chief economic adviser to Pimco parent company Allianz Group.
Linnartz, who has spent most of her career in the hospitality industry, was tapped to lead Under Armor because of her experience in digital sales and developing Bonvoy, Marriott’s renowned loyalty program.
Since taking the helm at Under Armor, she has launched UA Rewards and plans to build out the brand’s women’s line to expand its customer base.
“On behalf of the entire team, I would like to thank Stephanie for her contributions to Under Armor. We are deeply grateful for her hard work and dedication.” Plank says in a statement. “During her tenure, she has strengthened the leadership team by recruiting executives in key areas such as product, design, supply chain, consumer connectivity and territory management. Her previous experience leading major brands helps focus our consumer strategy.”
Linnerz said in a statement that she was “honored” to serve as Under Armor CEO.
“I’m proud of the progress we’ve made on our strategic initiatives, including strengthening our team, growing our products and marketing, and increasing our focus on profitability,” Linnerz said. “We have a strong foundation for future growth, The company’s potential is limitless. I will continue to support Under Armor’s success.”
About The Author
