Kevin Plank Reinstated as CEO of Under Armour

Under Armour has announced the return of its founder, Kevin Plank, to the helm as the company’s president and chief executive officer, starting April 1, 2024. Plank will be taking over the reins from Stephanie Linnartz.

In a strategic shift in leadership, Dr. Mohamed A. El-Erian, who has served as an independent director since 2018 and as lead director since 2020, is set to become the non-executive chair of Under Armour’s board. While Plank will continue his role as a board member, Linnartz will transition to an advisory position within the company until April 30, 2024.

Expressing gratitude towards Stephanie Linnartz for her significant contributions, Plank highlighted her pivotal role in refining the company’s consumer strategy and the successful launch of the UA Rewards loyalty program in the U.S.

Plank, reflecting on his new role as CEO, underscored the challenges and opportunities lying ahead for Under Armour in the post-pandemic landscape. He emphasized the company’s commitment to leveraging its core strengths and making strategic decisions to foster long-term success for its stakeholders.

Under Armour credits its innovative edge and brand identity to Plank, who founded the company in 1996 and led it as CEO until 2019. In 2020, Plank took on the roles of executive chair and brand chief.

Dr. Mohamed A. El-Erian holds prestigious positions in academia and finance, including the presidency of Queens’ College at the University of Cambridge and chief economic advisor at Allianz. His extensive experience spans across major financial institutions and international organizations, contributing to his role as a seasoned leader and advisor in the global financial landscape.