Under Armour said Bill Kraus formally resigned as senior vice president of Business Development. During his seven-year tenure, Kraus was responsible for various groups within the organization including Product Merchandising, Brand Marketing, Sports Marketing, Licensing, and Sales. Kraus will be starting his own sports management company.

Under Armour said it supports Kraus in this new opportunity and will continue to work with him as he builds his company.

“I want to thank Bill for his dedication to the Under Armour brand and acknowledge his role in helping the brand grow,” said Kevin Plank, Under Armour CEO and chairman. “Bill is a terrific leader and I wish him continued success and happiness in his new endeavor.”

Prior to becoming senior vice president of Business Development,  Kraus had been senior vice president of marketing for Under Armour since March 2006. Prior to that, he served as vice president of sports marketing, team sales and licensing of Under Armour since joining the company in 2002. Prior to joining the company, Kraus served as director of eastern retail sales for Champion Products from 1995 to 2002.