Under Armor founder Kevin Plank in an interview on CNBC's „Mad Money“ on February 28, 2018.
Scott Mullin | CNBC
under armor announced Wednesday that CEO Stephanie Linnertz will be stepping down from her role after just over a year in the role. Founder Kevin Plank He plans to return as the brand's chief executive officer.
Lynnarts took over. He became CEO of Under Armor in February 2023 after nearly 30 years at Marriott International, most recently serving as its president. Plank, who founded Under Armor in 1996, stepped down as CEO about four years ago, but he remains the sports company's chairman.
Mr. Plank will take up his position on April 1, and Mr. Linnertz will remain with the company as an advisor until the end of April.
Plank will remain on Under Armour's board of directors, but the chairmanship will be handed over to Mohamed El-Erian, chief economic adviser at Allianz, Pimco's parent company.
Linnertz, who spent most of his career in the hospitality business, was selected to lead Under Armor because of his experience building digital sales and developing Marriott's famous Bonvoy loyalty program.
Since taking the helm at Under Armor, she launched UA Rewards and planned to enhance the brand's women's offerings to grow its customer base.
„On behalf of the entire team, I would like to thank Stephanie for her contributions to Under Armor. We deeply appreciate her hard work and dedication.“ Planck said In a statement. “During her tenure, she strengthened her leadership team with executive hires in key areas such as product, design, supply chain, consumer connections, and regional management. Her previous experience leading major brands The experience helped us focus our consumer strategy.”
Linnertz said in a statement that he is „honored“ to serve as Under Armor's CEO.
„I'm proud of the progress we've made against our strategic plan, including strengthening our team, evolving our products and marketing, and increasing our focus on profitability,“ Linnertz said. „We have a strong foundation for future growth, and the possibilities for the company are limitless. I will continue to support Under Armor's success.“