Under Armour CEO Kevin Plank returns, Mohamed El-Erian named board chair.

• Under Armour CEO Stephanie Linnartz has resigned from her position after serving for just over a year.
• Effective April 1, Kevin Plank will resume his role as the brand's CEO.
• As nonexecutive board chair, Mohamed El-Erian, the chief economic advisor at Allianz, will assume the role.

On Wednesday, it was announced that CEO Stephanie Linnartz is stepping down from her position, which she has held for just over a year, and founder Kevin Plank will be returning as the brand's chief executive.

In February 2023, Linnartz became Under Armour's CEO after spending nearly 30 years at Marriott International, most recently as its president. Plank, who founded Under Armour in 1996, stepped down as CEO about four years ago but has stayed on as the athletic company's chairman.

Linnartz will remain with the company as an advisor until the end of April, while Plank will assume leadership on April 1st.

El-Erian, the chief economic advisor at Allianz, will succeed Plank as chair of Under Armour's board.

Linnartz, with extensive experience in the hospitality industry, was appointed to lead Under Armour due to her expertise in digital sales and the development of Marriott's acclaimed loyalty program, Bonvoy.

Under Armour's female customer base was intended to be expanded by the CEO, who launched UA Rewards and planned to increase the brand's women's selection.

"Stephanie's contributions to Under Armour were recognized by the full team, with Plank expressing gratitude for her hard work and dedication. During her tenure, she strengthened the leadership team by making executive hires in critical areas such as product, design, supply chain, consumer connectivity, and regional management. Her prior experience leading major brands was instrumental in focusing Under Armour's consumer strategy."

Linnartz expressed her gratitude for having served as Under Armour's CEO.

"Linnartz stated, "Our progress against our strategic plan, which includes strengthening our team, evolving our products and marketing, and increasing our focus on profitability, makes me proud. We have a solid foundation for future growth, and the potential of Under Armour is boundless. I will continue to support the company's success.""