Kevin Plank returns as Below Armour CEO, Mohamed El-Erian named board chair

Under Armour introduced on Wednesday that CEO Stephanie Linnartz is stepping down from her position simply over a 12 months after she began, and founder Kevin Plank will return because the model’s chief govt.

Linnartz took over as Below Armour’s CEO in February 2023 after spending almost 30 years at Marriott Worldwide, most just lately as its president. Plank, who based Below Armour in 1996, stepped down as CEO about 4 years in the past however has stayed on because the athletic firm’s chairman.

Plank will take over on April 1 and Linnartz will keep on with the corporate as an advisor by means of the tip of April.

Plank will stay a director on Below Armour’s board however will hand over the chair place to Mohamed El-Erian, chief financial advisor at Allianz, Pimco’s mum or dad firm.

Linnartz, who spent the vast majority of her profession within the hospitality enterprise, was tapped to guide Below Armour due to her expertise constructing out digital gross sales and creating Marriott’s famend loyalty program Bonvoy.

Since taking the helm of Below Armour, she launched UA Rewards and had plans to construct out the model’s ladies’s assortment to develop its buyer base.

“On behalf of the full team, I want to thank Stephanie for her contributions to Under Armour. We deeply appreciate her hard work and dedication,” Plank said in an announcement. “During her tenure, she strengthened the leadership team with executive hires in critical areas, including product, design, supply chain, consumer connectivity, and regional management. Her prior experience leading major brands was instrumental in focusing our consumer strategy.”

In an announcement, Linnartz stated she feels “honored” to have served as Below Armour’s CEO.

“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,” stated Linnartz. “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.”