Kevin Plank, the founder and CEO of Under Armour Inc., is stepping down as CEO. Patrik Frisk, the company’s chief operating officer, will take over as CEO at the end of the year. Plank, having served as Chairman and CEO since he founded the company in 1996, will become executive chairman and brand chief continuing to lead Under Armour’s Board of Directors while focusing on product elevation, amplifying the brand story and stewarding the company’s strong team culture.
Frisk, 56, will also join Under Armour’s Board of Directors.
“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. “As my partner during the most transformative chapter in our history, he has been exceptional in his ability to translate our brand’s vision into world-class execution by focusing on our long-term strategy and re-engineering our ecosystem through a strategic, operational and cultural transformation.”
Plank continued, “Having earned the trust and respect of our teammates, customers and shareholders, Patrik’s proven track record of industry experience, straightforward leadership style and championship of our brand and culture makes him uniquely positioned to smartly capitalize on the opportunities in front of us. As I envision our future – I look forward to further partnering with Patrik to continue our pursuit of becoming the best athletic brand in the world. I am confident that we are just getting started.”
Frisk added, “I joined Under Armour to be part of an iconic brand that demonstrated the power of sport and premium experience, when properly harnessed, is capable of unlimited possibilities. Today, I am even more resolute in this conviction. The opportunity that lies ahead of us is incredible. As our entire global team continues to lean hard into our transformation, I am honored to lead this great brand toward the realization of its full potential.”
Frisk joined Under Armour in 2017 following nearly 30 years of experience in the apparel, footwear and retail industry. Prior to Under Armour, he was CEO of The ALDO Group, a global footwear and accessories company. Previous to that, he spent more than a decade with VF Corporation where he held numerous leadership positions including Coalition President of Outdoor Americas (The North Face and Timberland), President of the Timberland brand, President of Outdoor & Action Sports (EMEA), and Vice President and General Manager of The North Face.
Photo courtesy Under Armour
