Kevin Plank, founder of Under Armor, during a CNBC interview for “Mad Money” on February 28, 2018.
Scott Mill | CNBC
In armor announced Wednesday that CEO Stephanie Linnartz will step down from her role just over a yr after assuming the role, and founder Kevin Plank will return as the brand’s CEO.
Linnartz took over as CEO of Under Armor in February 2023 after spending nearly 30 years at Marriott International, most recently as its president. Plank, who founded Under Armor in 1996, stepped down as CEO about 4 years ago but remained as president of the sports company.
Plank will take over on April 1, and Linnartz will remain with the company as an advisor until the end of April.
Plank will remain a director of Under Armor’s board but will hand over the chairmanship to Mohamed El-Erian, chief economic adviser at Allianz, Pimco’s parent company.
Linnartz, who has spent most of her profession in the hospitality industry, was tapped to serve as director of Under Armor attributable to her experience constructing digital sales and expanding Marriott’s renowned Bonvoy loyalty program.
Since taking the reins at Under Armor, she has launched the UA Rewards program and plans to expand the brand’s women’s lineup to grow its customer base.
“On behalf of the entire team, I want to thank Stephanie for her contributions to Under Armor. We deeply appreciate her hard work and dedication.” Plank said in a press release. “During her tenure, she strengthened the leadership team with executive hires in key areas including product, design, supply chain, customer connectivity and regional management. Her prior experience leading major brands has been instrumental in focusing our consumer strategy.”
In a press release, Linnartz said she was “honored” to have the opportunity to serve as CEO of Under Armor.
“I am proud of our progress in executing our strategic plan, which includes strengthening our team, developing our products and marketing, and increasing our focus on profitability,” Linnartz said. “We have strong foundations for future development, and the company’s potential is unlimited. I’ll proceed to root for Under Armor’s success.”
