// Under Armour president and CEO Patrik Frisk to step down
// Chief operating officer Colin Browne will be appointed as interim president and CEO
Under Armour has revealed its president and chief executive Patrik Frisk is set to step down next month.
The sportswear retailer has commenced an internal and external search process to identify his successor.
Under Armour chief operating officer Colin Browne will be appointed as interim president and chief executive on 1 June.
READ MORE: Under Armour posts record fourth quarter as revenues rise 27% to £4.2m
To support the transition, Frisk will remain with Under Armour as an advisor until 1 September.
Kevin Plank, Under Armour founder, executive chairman and brand chief, said: “On behalf of the board, I want to thank Patrik for his valuable contributions to Under Armour over the past five years.
“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.”
Since joining Under Armour in 2017, Frisk has been credited with helping to develop a long-term strategic plan that underscores the brand’s commitment to athletic performance by re-engineering its structure, systems and go-to-market process.
Frisk said: “It has been the greatest privilege of my career to serve Under Armour athletes, customers, shareholders, and teammates. I am extremely proud of what we’ve accomplished as a team.
“Together, we have done a tremendous amount of work to strengthen this iconic brand while significantly solidifying its operations. Colin has an intimate understanding of the Under Armour business and our industry. I have every confidence that his stewardship will allow for a seamless transition.”
Having worked with Under Armour since 2016, Browne has been chief operating officer since 2020.
Browne said: “What unifies and drives Under Armour is our purpose: to empower those who strive for more. This transition is an opportunity to further our long-term goals. I am grateful for Patrik’s leadership and partnership.
“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.”
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