As we work to deliver industry-leading innovation and premium experiences to athletes globally, we remain focused on amplifying the strong foundation that’s been set over the past few years.” Since joining the company in 2016, Browne modernized Under Armour’s digital go-to-market strategy and direct-to-consumer model and transformed its supply chain organization, leading to significant margin improvement and operating efficiency. I am grateful for Patrik’s leadership and partnership. This transition is an opportunity to further our long-term goals. I have every confidence that his stewardship will allow for a seamless transition.” Browne said, “What unifies and drives Under Armour is our purpose: to empower those who strive for more. Colin has an intimate understanding of the Under Armour business and our industry. “Together, we have done a tremendous amount of work to strengthen this iconic brand while significantly solidifying its operations. I am extremely proud of what we’ve accomplished as a team,” said Frisk. “It has been the greatest privilege of my career to serve Under Armour athletes, customers, shareholders, and teammates. Under his leadership, the company delivered industry-leading products, deepened relationships with consumers and customers, and advanced its purpose, vision, mission, and values. In the meantime, we are moving forward and will continue to connect with athletes in exciting ways, offering them exactly what they need when they need it.” Frisk, who joined Under Armour in 2017, helped architect its long-term strategic plan that underscored its commitment to athletic performance by reengineering its structure, systems, and go-to-market process. I look forward to working closely with the board during the search process to find our next leader who will take us to new heights. There is a huge opportunity in front of us. As we transition, we are committed to identifying additional opportunities to drive improved returns for our shareholders and deliver for athletes, partners, and teammates. As we search for Patrik’s permanent successor, Colin’s experience as a seasoned executive in our industry and leading critical operational aspects of our business will serve Under Armour well as interim CEO.” Plank continued, “Under Armour is evolving to meet the needs of our athletes worldwide. “During his tenure, we made significant strides in advancing enterprise-wide operational excellence, and Patrik’s steadfast leadership has been crucial to strengthening our foundation and positioning the company for our next growth phase. “On behalf of the board, I want to thank Patrik for his valuable contributions to Under Armour over the past five years,” said Kevin Plank, Under Armour Founder, Executive Chairman and Brand Chief. To support the transition, Frisk will remain with Under Armour as an advisor through September 1, 2022. Until a successor is named, the board has appointed Colin Browne, the company’s Chief Operating Officer (COO), as interim President and CEO, effective June 1, 2022. The board has initiated a comprehensive internal and external search process to identify a permanent President and CEO. (“the company”) (NYSE: UA, UAA), today announced that Patrik Frisk will step down as President and Chief Executive Officer (CEO) and as a member of the Board of Directors (board), effective June 1, 2022. Latest earnings results and historical data.įocused on performance in our business and at the bottom line.
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