Kevin Plank returns as Under Armour CEO, Mohamed El-Erian named board chair
Under Armour made headlines on Wednesday with the announcement of CEO Stephanie Linnartz stepping down, merely a year into her tenure, to be succeeded by founder Kevin Plank who will resume his role as the brand’s chief executive.
Background and Transition
Having joined Under Armour as CEO in February 2023, Linnartz brought with her nearly three decades of experience from Marriott International, culminating in her role as president. Meanwhile, Plank, who established Under Armour in 1996, had previously relinquished his CEO position four years prior but continued serving as the company’s chairman.
Upcoming Changes
Effective April 1, Plank will reassume the CEO mantle while Linnartz will maintain an advisory role until the end of April. Furthermore, although Plank will retain his directorship on Under Armour’s board, Mohamed El-Erian, the chief economic advisor at Allianz, will take over the chair position.
Contributions and Vision
Linnartz’s background in the hospitality industry uniquely positioned her to lead Under Armour, leveraging her expertise in digital sales expansion and the development of Marriott’s renowned loyalty program, Bonvoy. Under her stewardship, initiatives like UA Rewards were launched, and plans were underway to bolster the brand’s women’s product line to broaden its customer base.
Acknowledgment and Gratitude
Plank expressed gratitude for Linnartz’s contributions, particularly in bolstering the leadership team and refining the consumer strategy. Linnartz reciprocated the sentiment, stating her pride in the progress made during her tenure and her continued support for Under Armour’s future endeavors.
As Under Armour navigates this leadership transition, the company remains poised for growth, fortified by a solid foundation and a vision for continued success.
for Similar News: https://initiatemagazine.com
Contact for Ads and Announcements: +92 3152042287
Email: Contact@initiatemagazine.com