International Courant
Kevin Plank, founding father of Underneath Armour, throughout a CNBC interview on “Mad Cash” on February 28, 2018.
Scott Mlyn | CNBC
Underneath armor introduced Wednesday that CEO Stephanie Linnartz is stepping down from her place simply over a 12 months after beginning, and that founder Kevin Plank will return as CEO of the model.
Linnartz took over as CEO of Underneath Armor in February 2023 after spending almost 30 years at Marriott Worldwide, most not too long ago as president. Plank, who based Underneath Armor in 1996, stepped down as CEO about 4 years in the past however remained as chairman of the athletics firm.
Plank will take over on April 1 and Linnartz will stay with the corporate as an advisor till the top of April.
Plank will stay a director on Underneath Armor’s board, however will hand over the chairman place to Mohamed El-Erian, chief financial advisor at Allianz, Pimco’s dad or mum firm.
Linnartz, who spent most of her profession within the hospitality trade, was tapped to guide Underneath Armor due to her expertise constructing digital gross sales and creating Marriott’s famend Bonvoy loyalty program.
Since taking the helm of Underneath Armour, she launched UA Rewards and had plans to broaden the model’s ladies’s vary to develop its buyer base.
“On behalf of all the group, I wish to thank Stephanie for her contributions to Underneath Armour. We tremendously recognize her laborious work and dedication.” Plank stated in a press release. “Throughout her tenure, she strengthened the management group with new executives in key areas together with product, design, provide chain, shopper connectivity and regional administration. Her earlier expertise main main manufacturers was essential to focusing our shopper technique.”
In a press release, Linnartz stated she feels “honored” to have served as CEO of Underneath Armour.
“I’m pleased with our progress in opposition to our strategic plan, together with strengthening our group, creating our merchandise and advertising, and rising our deal with profitability,” stated Linnartz. “We have now constructed a robust basis for future progress and the corporate’s potential is limitless. I’ll proceed to champion Underneath Armour’s success.”
