Under Armour Inc. announced a leadership change March 13, as its president and CEO, Stephanie Linnartz, will be stepping down. Its founder, executive chairman Kevin Plank, will take over the CEO role, effective April 1.
As a result, Dr. Mohamed A. El-Erian will become the non-executive chair of the board, Under Armour said in a statement. El-Erian has been on the board as an independent director since 2018 and lead director since 2020. Plank will remain a director. He was previously the Under Armour CEO from the company’s founding in 1996 to 2019.
Linnartz will remain an advisor to the company through April 30, 2024.
“During her tenure, she strengthened the leadership team with executive hires in critical areas, including product, design, supply chain, consumer connectivity, and regional management,” Plank said in a statement. “Her prior experience leading major brands was instrumental in focusing our consumer strategy, including the launch of the U.S. loyalty program, UA Rewards.”
In a post to the company’s LinkedIn page, Plank said Linnartz “also played a key role in focusing on our current strategy and challenging the balance between our strengths and opportunities.”
“Her leadership helped put us on the right track toward winning,” Plank added.
Under Armour under CEO Linnartz’s leadership
In a 2023 one-on-one interview with Digital Commerce 360 at Under Armour’s Michigan Avenue store in Chicago, Linnartz emphasized ecommerce as part of the brand’s growth plans, starting with appealing to youth through digital marketing. She also focused on UA Rewards and outlined four key priorities for Under Armour:
- Product design
- Supply chain management
- Merchandising
- Technology
Linnartz had appointed executives Kara Trent and Yassine Saidi in January as president of the Americas and chief product officer, respectively. That followed her appointing a new chief customer officer, chief supply chain officer and head of design to her leadership team.
“I am proud of our progress against our strategic plan, including strengthening our team, evolving our products and marketing, and increasing our focus on profitability,” Linnartz said in the company’s statement announcing her departure. “We have a strong foundation in place for future growth and the company’s potential is limitless. I will continue to root for Under Armour’s success.”
In a LinkedIn post, Linnartz said she is “proud of the team we built, the strategic plans we put in place, and the progress we made together.”
Under Armour is No. 97 in the Top 1000. The database is Digital Commerce 360’s ranking of North America’s leading online retailers by their web sales. In it, Digital Commerce 360 places Under Armour in the Apparel/Accessories category.
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