Mohamed El-Erian was named board chair


Kevin Plank, founder of Under Armour, during a CNBC interview on “Mad Money” on Feb. 28, 2018.
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.”

Founder of Under Armour Kevin Plank, in a CNBC interview on “Mad Money” on February. 28th, 2018.

CEO Stephanie Linnartz is leaving Under Armour, the company announced on Wednesday. Kevin Plank, the founder, will take over as CEO of the company, having joined it less than a year ago.

After working for Marriott International for almost 30 years, most recently as president, Linnartz became CEO of Under Armour in February 2023. Though he left his position as CEO of Under Armour approximately four years ago, Plank, who founded the athletic company in 1996, continues to serve as chairman.

April 1st will see Plank take over, and through the end of April, Linnartz will continue to serve as an advisor for the company.

Plank will continue to serve as a director on the board of Under Armour, but he will cede the chairmanship to Mohamed El-Erian, the chief economic advisor of Allianz, the parent company of Pimco.

Having worked in the hospitality industry for the most of her career, Linnartz was chosen to head Under Armour due to her background in developing Marriott’s Bonvoy loyalty program and expanding digital sales.

As soon as she assumed leadership of Under Armour, she introduced UA Rewards and made plans to expand the company’s womenswear line in order to attract more followers.

“I want to thank Stephanie for her contributions to Under Armour on behalf of the entire team. We sincerely value her diligence and commitment, Plank stated in a statement. “She strengthened the leadership team during her tenure by bringing in executives with experience in key roles such as supply chain, product, design, consumer connectivity, and regional management. We were able to focus our consumer strategy thanks to her previous experience leading large brands. “.”.

Linnartz said in a statement that she is “honored” to have held the position of CEO at Under Armour.

“Our team has strengthened, our products and marketing have evolved, and we are more focused on profitability. We are proud of our progress toward our strategic plan,” Linnartz declared. “The company has boundless potential and we have a solid foundation in place for future growth. I’ll keep cheering for Under Armour to succeed. “.”.

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