Kevin Plank returns as Under Armour CEO, Mohamed El-Erian named board chair

Under
Armour
announced
on
Wednesday
that
CEO
Stephanie
Linnartz
is
stepping
down
from
her
role
just
over
a
year
after
she
started,
and

founder
Kevin
Plank
will
return
as
the
brand’s
chief
executive.

Linnartz
took
over
as
Under
Armour’s
CEO
in
February
2023
after
spending
nearly
30
years
at
Marriott
International,
most
recently
as
its
president.
Plank,
who
founded
Under
Armour
in
1996,
stepped
down
as
CEO
about
four
years
ago
but
has
stayed
on
as
the
athletic
company’s
chairman.

Plank
will
take
over
on
April
1
and
Linnartz
will
stay
on
with
the
company
as
an
advisor
through
the
end
of
April.

Plank
will
remain
a
director
on
Under
Armour’s
board
but
will
hand
over
the
chair
position
to
Mohamed
El-Erian,
chief
economic
advisor
at
Allianz,
Pimco’s
parent
company.

Linnartz,
who
spent
the
majority
of
her
career
in
the
hospitality
business,
was
tapped
to
lead
Under
Armour
because
of
her
experience
building
out
digital
sales
and
developing
Marriott’s
renowned
loyalty
program
Bonvoy.

Since
taking
the
helm
of
Under
Armour,
she
launched
UA
Rewards
and
had
plans
to
build
out
the
brand’s
women’s
assortment
to
grow
its
customer
base.

“On
behalf
of
the
full
team,
I
want
to
thank
Stephanie
for
her
contributions
to
Under
Armour.
We
deeply
appreciate
her
hard
work
and
dedication,”

Plank
said
in
a
statement.
“During
her
tenure,
she
strengthened
the
leadership
team
with
executive
hires
in
critical
areas,
including
product,
design,
supply
chain,
consumer
connectivity,
and
regional
management.
Her
prior
experience
leading
major
brands
was
instrumental
in
focusing
our
consumer
strategy.”

In
a
statement,
Linnartz
said
she
feels
“honored”
to
have
served
as
Under
Armour’s
CEO.

“I
am
proud
of
our
progress
against
our
strategic
plan,
including
strengthening
our
team,
evolving
our
products
and
marketing,
and
increasing
our
focus
on
profitability,”
said
Linnartz.
“We
have
a
strong
foundation
in
place
for
future
growth
and
the
company’s
potential
is
limitless.
I
will
continue
to
root
for
Under
Armour’s
success.”