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When Under Armour founder Kevin Plank stepped down from the CEO role four years ago, sentiment around incoming chief Patrik Frisk was high. Wells Fargo analysts encapsulated the mood well with their statement at the time.
“While we certainly don’t want to downplay Mr. Plank’s success and achievements in guiding the company to a $5+ billion global brand, we do believe that in order to take the company to the proverbial ‘next level’, they could use some new blood in the CEO seat,” the analysts wrote.
It was somewhat of a surprise, then, when Frisk exited the role after just two years. After a short stint with Colin Browne acting as interim CEO, the company named its next chief executive at the end of 2022. Stephanie Linnartz, with a 25-year record at Marriott, took over the reins in February 2023 — and left barely a year later.
What was perhaps more surprising than her abrupt departure was who Under Armour named CEO next: Kevin Plank. This month on the podcast, we sat down with Senior Editor Cara Salpini to talk about Under Armour’s revolving CEO door, what it means for the company and how the activewear retailer was impacted by the rise of Lululemon.
Resource links:
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Kevin Plank can’t let go of Under Armour. Is that hampering a turnaround?
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Under Armour puts founder Kevin Plank back in charge as CEO Stephanie Linnartz exits
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Patrik Frisk was tasked with turning around Under Armour. He lasted 2 years.
Editor’s note: This episode was produced and edited by Caroline Jansen.
