Under Armour founder Kevin Plank is stepping down as CEO, a change that comes as the company continues to struggle against its rivals
Current CEO Kevin Plank is resigning and will be replaced by Chief Operating Officer Patrik Frisk will assume the position on January 1, 2020, the company announced Tuesday. Plank, who has served in the CEO role since the company's founding in 1996, will serve as an executive chairman and brand chief.Under Armour CEO Kevin Plank is leaving the position in 2020.Plank called Frisk the"right person" to be Under Armour's CEO in a release.
It's also having trouble attracting customers in North America, as Nike , Adidas and smaller brands such as Fila and Puma thrive, Cristina Fernandez, analyst at Telsey Advisory Group, previously said in a note to clients.Plank is the most recognizable face of the company. Plank defended Under Armour's hometown of Baltimore against President Donald Trump when he criticized the city over the summer. But he's also been embroiled in scandal.
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