Patrik Frisk Steps Down as CEO of Under Armour-NEWS SNEAKERS

Underneath Armour has introduced that President and CEO Frisk can be stepping down. Frisk began at Underneath Armour in June 2017 as President and COO, which developed him to tackle the roles of President and CEO in January 2020. Moreover, Frisk may also step down as a member of Underneath Armour’s Board of Administrators. The entire pending modifications will go into impact on June 1, 2022.

As reported by Footwear Information, COO Colin Browne has been appointed Interim President and CEO whereas the board continues to discover potential candidates for Frisk’s successor. Frisk will assist the transition as an advisor till September 1, 2022.

“It has been the best privilege of my profession to serve Underneath Armour athletes, prospects, shareholders and teammates. I’m extraordinarily pleased with what we’ve achieved as a group,” Frisk stated in an announcement. “Collectively, now we have finished an incredible quantity of labor to strengthen this iconic model whereas considerably solidifying its operations. Colin has an intimate understanding of the Underneath Armour enterprise and our {industry}. I’ve each confidence that his stewardship will enable for a seamless transition.”

Earlier than Underneath Armour, Frisk was the CEO of Aldo Group for over two years, which is modest in comparison with the 11 years that he spent as varied management roles at VF Corp. Frisk was capable of tackle the place of CEO when Underneath Armour Founder Kevin Plank stepped down from the place in October 2019. Plank stays at Underneath Armour as Government Chairman and Model Chief.

“On behalf of the board, I wish to thank for his helpful contributions to Underneath Armour over the previous 5 years,” Plank stated in an announcement. “Throughout his tenure, we made important strides in advancing enterprise-wide operational excellence, and ’s steadfast management has been essential to strengthening our basis and positioning the corporate for our subsequent development part. As we seek for Patrik’s everlasting successor, Colin’s expertise as a seasoned govt in our {industry} and main important operational facets of our enterprise will serve Underneath Armour effectively as interim CEO.”

Working alongside Frisk, Brown began at Underneath Armour in 2016 as President of International Sourcing, and was promoted to COO in January 2020. Underneath Armour has credited Browne with including effectivity to the model’s direct-to-consumer mannequin and advertising and marketing methods. Browne has additionally revamped Underneath Armour’s provide chain group, which has result in staggering enhancements within the model’s total operations. These attributes have particularly shined in the course of the chaos brought on by pandemic-related world provide challenges.

“What unifies and drives Underneath Armour is our goal: to empower those that attempt for extra. This transition is a chance to additional our long-term objectives. I’m grateful for Patrik’s management and partnership. As we work to ship industry-leading innovation and premium experiences to athletes globally, we stay targeted on amplifying the robust basis that’s been set over the previous few years,” Browne stated in an announcement.

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