Under Armour Welcomes Back Founder Kevin Plank as CEO in Leadership Shake-Up

In a significant turn of events for Under Armour, Inc., the sportswear company has announced the return of its founder, Kevin Plank, to the helm as President and Chief Executive Officer, effective April 1, 2024. This leadership transition comes as Stephanie Linnartz, the current President and CEO, prepares to step down from her roles and the Board. Plank, who originally led Under Armour from its inception in 1996 until 2019, is poised to guide the company once again after serving as Executive Chair and Brand Chief. The announcement has sparked a positive reaction in the stock market, with shares of Under Armour (UA.N) rallying by 6% after hours on Wednesday.

Mohamed A. El-Erian, a respected figure in the financial world and Under Armour's lead director, is set to become the non-executive Chair of the Board, further solidifying the company's leadership structure. Linnartz will continue to serve as an advisor to Under Armour until April 30, 2024, ensuring a smooth transition. This strategic move marks a new chapter for Under Armour, as it seeks to leverage Plank's visionary leadership and intimate knowledge of the brand to navigate the competitive athleisure market and drive future growth.

The return of Kevin Plank is a pivotal moment for Under Armour, signaling a potential shift in corporate strategy and brand direction. With Plank's proven track record and deep connection to the company's core values, stakeholders are optimistic about the brand's ability to innovate and compete on a global scale. As the market anticipates the impact of this leadership change, all eyes will be on Under Armour's performance and strategic initiatives under Plank's renewed guidance.