Under Armour+1.82%
Under Armour Inc. CEO Patrik Frisk steps down
Under Armour, Inc. announced on Wednesday that Patrik Frisk will resign his roles of President and Chief Executive Officer (CEO) and a member of the Board of Directors in June this year. The board has appointed Colin Browne as interim President and CEO until a permanent executive is chosen.
"During his tenure, we made significant strides in advancing enterprise-wide operational excellence," stated Executive Chairman and Brand Chief Kevin Plank, adding that Frisk's leadership was important to "strengthen our foundation and position the company for our next growth phase."
"It has been the greatest privilege of my career to serve Under Armour athletes, customers, shareholders, and teammates. I am extremely proud of what we've accomplished as a team," said Frisk in a statement. The company's shares lost nearly 3% in the after-hours trading.