Under Armour founder, CEO Kevin Plank steps down; insider tapped for role
Oct 22, 2019
Plank, who will relinquish the role at the beginning of 2020, has been chief executive since 1996.
Frisk, 56, joined the company in July 2017 from his position as CEO of footwear and accessories company Aldo Group.
Since joining Under Armour, Frisk has played a main role in the company’s turnaround plan. He will join the board, while Plank transitions to executive chairman and brand chief.
“Our multi-year, transition approach has ensured purposeful leadership continuity. Patrik is the right person to serve as Under Armour’s next CEO,” said Plank.
Shares of the company were up 1% in premarket trading.
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