In a move further up the corporate chain, at the same time as Plank’s appointment, Dr. Mohamed A. El-Erian, an independent director since 2018 and lead director since 2020, will become the non-executive chair of the Board.

Plank (at left in photo above with Team Insight editor Michael Jacobsen at his Sporting Goods Hall of Fame Induction in 2017) will also transition from executive chair of the Board but will remain a director. Linnartz will remain an advisor to the company through April 30, 2024. Dr. El-Erian, an independent UA director since 2018 and lead director since 2020, will become the non-executive chair of the Board.

“For nearly 30 years, Under Armour has focused on inspiring athletes with industry-leading, performance solutions they never knew they needed and once they’ve tried them, can’t imagine living without,” said Plank in a statement. “As the company continues to navigate several post-pandemic consumer, industry and brand-specific factors, we are working hard to reconstitute our strengths and make thoughtful, balanced business decisions to drive enduring success for athletes, customers, and shareholders. I am energized about the team we have put into place and look forward to seizing the opportunities ahead.

“On behalf of the full team, I want to thank Stephanie for her contributions to Under Armour. We deeply appreciate her hard work and dedication,” Plank added. “During her tenure, she strengthened the leadership team with executive hires in critical areas, including product, design, supply chain, consumer connectivity, and regional management. Her prior experience leading major brands was instrumental in focusing our consumer strategy, including the launch of the U.S. loyalty program, UA Rewards. Her efforts have helped set us on the right path, and we wish her success in her future endeavors.”

Plank founded Under Armour in 1996, and from 1996 to 2019, he served as Under Armour’s CEO and chair of the Board of Directors. In January 2020, Plank was appointed executive chair and brand chief.