A brand new yr will convey a brand new CEO to Under Armour.Chief Working Officer Patrik Frisk will change founder Kevin Plank as CEO on Jan. 1, 202
A brand new yr will convey a brand new CEO to Under Armour.
Chief Working Officer Patrik Frisk will change founder Kevin Plank as CEO on Jan. 1, 2020. Frisk may also be a part of the corporate’s board, whereas Plank transitions to government chairman and model chief.
“Patrik is the fitting particular person to function Beneath Armour’s subsequent CEO,” Plank mentioned within the launch. “As my associate throughout essentially the most transformative chapter in our historical past, he has been distinctive in his means to translate our model’s imaginative and prescient into world-class execution by specializing in our long-term technique and re-engineering our ecosystem by a strategic operational and cultural transformation.”
Beneath Armour shares had been up lower than 1% in premarket buying and selling Tuesday following the announcement.
Frisk joined Beneath Armour in July 2017 from his place as CEO of Aldo Group. There, like at Beneath Armour, Frisk labored underneath its legendary founder, Aldo Bensadoun. Previous to Aldo, Frisk held numerous management positions at VF Corp.
He has been a key a part of Beneath Armour’s three-year transformation plan. On the latest earnings name, he listed “prolonged achievements” the corporate has logged to date, together with optimizing the availability chain and defining the goal buyer.
Nonetheless, a giant a part of Frisk’s focus has been revitalizing North America for the model, which has not but returned to progress. North America revenue…