BALTIMORE (WJZ) – According to a company announcement, Armor’s chairman and chief executive officer, Patrik Frisk, will step down and step down from his position on the Board of Directors effective June 1.
The board has begun a comprehensive internal and external search process to identify Frisk’s replacement.
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Until a successor arrives, the board has appointed Colin Browne, the company’s chief executive officer, as interim president and chief executive officer, effective June 1. Frisk will remain under Under Armor as an advisor until September 1, according to company employees.
Kevin Plank, founder of Under Armor and executive chairman and chief brand officer, thanked Frisk for leadership in a statement.
“During his tenure, we have made significant strides in driving excellence across the business, and Patrik’s unwavering leadership has been a key factor in strengthening the business,” he said. foundation and position the company for our next phase of growth.” “As we search for Patrik’s long-term successor, Colin’s experience as a seasoned executive in our industry and key operational aspects tops our business. will serve Under Armor as well as interim CEO.”
Plank notes that “Under Armor is evolving to meet the needs of our athletes around the world.”
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“As we transform, we are committed to identifying additional opportunities to drive improved returns for our shareholders and for our athletes, partners and teammates,” he said. speak. “There is a huge opportunity ahead of us. I look forward to working closely with the board in our search to find our next leader who will take us to the next level. In the meantime, we are moving forward and will continue to connect with athletes in exciting ways, giving them exactly what they need when they need it.”
Frisk joined Under Armor in 2017. He helped build a long-term strategic plan that underscores their commitment to athletic performance by restructuring their go-to market structure, systems, and processes. school, according to company employees.
Under his leadership, the company has delivered industry-leading products, deepened relationships with consumers and customers, and enhanced its purpose, vision, mission, and values. their own, the notice said.
Meanwhile, Browne has modernized Under Armor’s digital go-to-market strategy and direct-to-consumer model and transformed its supply chain organization, resulting in significant profitability improvements and performance since joining the company in 2016, the statement said.
Browne has held the role of COO since 2020 and oversees supply chain, global planning, sustainability, information technology, enterprise data management, trade optimization, go-to-market strategy and distribution ability. Browne has been an integral part of the company’s successful transition, and his leadership has been crucial in navigating the global supply challenges posed by the pandemic, the announcement said. .
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https://baltimore.cbslocal.com/2022/05/18/under-armour-president-patrik-frisk-steps-down-company-taps-interim-leader/ Under Armour President Patrik Frisk Steps Down, Company Taps Interim Leader – CBS Baltimore