Under Armour CEO to step down

Activewear brand Under Armour has announced that CEO and President, Patrick Frisk, will step down from his position on 1 June 2022 after five years with the company.

Until the board names a new candidate to take over Frisk's positions permanently it has named Colin Browne, the company's Chief Operating Officer, as interim President and CEO, effective 1 June.

Under Armour said Frisk will remain with the company as an advisor through 1 September 2022 to support the transition to new leadership. When Frisk joined Under Armour in 2017, he helped architect its long-term strategic plan, which underscored the brand's commitment to athletic performance.

Before joining Under Armour, he was Chief Executive Officer at footwear and accessories company the ALDO Group. Prior to this he held numerous leadership positions at VF Corporation, including President of the Timberland brand and Vice President and General Manager of The North Face.

Kevin Plank, Under Armour Founder, Executive Chairman and Brand Chief commented on Frisk's resignation: "During his tenure, we made significant strides in advancing enterprise-wide operational excellence, and Patrik's steadfast leadership has been crucial to strengthening our foundation and positioning the company for our next growth phase.

"Under Armour is evolving to meet the needs of our athletes worldwide. As we transition, we are committed to identifying additional opportunities to drive improved returns for our shareholders and deliver for athletes, partners, and teammates. There is a huge opportunity in front of us."