Under Armour Makes Leadership Changes, Brings in New President

Under Armour Chairman and CEO Kevin Plank

Under Armour said this week that it has named Patrik Frisk as its new chief operating officer, effective July 10. Under Armour founder Kevin Plank will remain chairman and CEO, but relinquish the title of president to Frisk.

Frisk has a deep understanding of the footwear industry, joining Under Armour from The Aldo Group, where he was CEO. He also held leadership positions for Outdoor Americas, Timberland and Outdoor & Action Sports.

"Patrik's global experience in brand building, including a proven and disciplined record of driving growth, while enhancing profitability and efficiency, will be instrumental as we work to transform our business model to deliver long-term value for our consumers, customers and shareholders," Plank said in the announcement.

Under Armour also announced Paul Fipps as its new chief technology officer, and Colin Browne as chief supply officer.

Under Armour said the management changes announced Tuesday are part of its plans to reset after years of rapid growth, while focusing on becoming more efficient, boosting digital business and reaching consumers.