Under Armour Brings Back Founder Kevin Plank as CEO

Under Armour, the athletic apparel retailer, made significant leadership changes, with CEO Stephanie Linnartz stepping down after just over a year in the role. Founder Kevin Plank will reassume the position of chief executive, effective April 1.

Linnartz’s tenure began in February 2023, bringing with her nearly three decades of experience from Marriott International, where she served as president. Plank, who founded Under Armour in 1996, had previously stepped down as CEO four years ago but continued as the company’s chairman.

“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. 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.”

Stephanie Linnartz, Former Under Armour CEO, via PR Newswire

Plank’s return signals a shift in direction for the brand. While Linnartz focused on initiatives such as launching UA Rewards and expanding the women’s assortment, Plank’s vision may lead to a reevaluation of priorities.

In this transition, Mohamed El-Erian, chief economic advisor at Allianz, steps into the role of nonexecutive board chair. This addition to the leadership team brings diverse expertise, potentially shaping Under Armour’s future strategies.

Linnartz’s departure prompts reflections on her contributions. Under her leadership, the company witnessed significant developments, including strengthening the leadership team and enhancing consumer connectivity. Her background in the hospitality industry brought a unique perspective, particularly in expanding digital sales and refining loyalty programs.

Expressing gratitude for Linnartz’s efforts, Plank acknowledges her role in advancing Under Armour’s strategic goals. Meanwhile, Linnartz herself voices pride in the progress achieved during her tenure, expressing confidence in the company’s future trajectory.

As Under Armour navigates this leadership transition, stakeholders anticipate how Plank’s return and El-Erian’s appointment will shape the company’s trajectory. With a strong foundation and ambitious goals, the brand sets its sights on continued growth and success in the athletic apparel market.