Under Armour Names Stephanie Linnartz Next CEO
Stephanie Linnartz is set to lead Under Armour as president, chief executive and a member of the board.
Photo:
patrick t. fallon/Agence France-Presse/Getty Images
Under Armour Inc.
UA -3.01%
on Wednesday said
Stephanie Linnartz
will join the company as its first female president, chief executive and a member of the board, effective Feb. 27.
The Baltimore-based sportswear maker said
Colin Browne,
who has served as interim president and CEO since June, will resume his role as chief operating officer upon Ms. Linnartz’s arrival. Ms. Linnartz currently serves as the president of
Marriott International Inc.,
where she has held multiple C-Suite positions. She joined the company in 1997 as a financial analyst.
Ms. Linnartz succeeds
Patrik Frisk,
who stepped down in June after two years on the job. At the time, Under Armour sought to reignite sales while reporting pressures from supply-chain issues.
Mr. Frisk’s total compensation for 2021 was $15.54 million, including a base salary of $1.29 million, according to a filing with the U.S. Securities and Exchange Commission.
Ms. Linnartz’s compensation will include a base salary of $1.3 million with a target bonus of 165%, plus stock, grant and equity awards. She’s also set to receive a sign-on bonus of $375,000.
As Ms. Linnartz takes the lead at Under Armour, the company’s biggest pressures are expected to come from higher freight and product costs, promotional activities and foreign currency changes, Under Armour Chief Financial Officer
David Bergman
said during a Nov. 3 earnings call with investors.
Analysts have been watching Under Armour and other retail competitors such as Nike for progress in trimming inventories as many consumers have shifted discretionary spending as inflation pounds their budgets. Executives said that they have seen strong demand but the company is aware that economic issues facing consumers haven’t abated.
Write to Denny Jacob at [email protected]
Copyright ©2022 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Stephanie Linnartz is set to lead Under Armour as president, chief executive and a member of the board.
Photo:
patrick t. fallon/Agence France-Presse/Getty Images
Under Armour Inc.
UA -3.01%
on Wednesday said
Stephanie Linnartz
will join the company as its first female president, chief executive and a member of the board, effective Feb. 27.
The Baltimore-based sportswear maker said
Colin Browne,
who has served as interim president and CEO since June, will resume his role as chief operating officer upon Ms. Linnartz’s arrival. Ms. Linnartz currently serves as the president of
Marriott International Inc.,
where she has held multiple C-Suite positions. She joined the company in 1997 as a financial analyst.
Ms. Linnartz succeeds
Patrik Frisk,
who stepped down in June after two years on the job. At the time, Under Armour sought to reignite sales while reporting pressures from supply-chain issues.
Mr. Frisk’s total compensation for 2021 was $15.54 million, including a base salary of $1.29 million, according to a filing with the U.S. Securities and Exchange Commission.
Ms. Linnartz’s compensation will include a base salary of $1.3 million with a target bonus of 165%, plus stock, grant and equity awards. She’s also set to receive a sign-on bonus of $375,000.
As Ms. Linnartz takes the lead at Under Armour, the company’s biggest pressures are expected to come from higher freight and product costs, promotional activities and foreign currency changes, Under Armour Chief Financial Officer
David Bergman
said during a Nov. 3 earnings call with investors.
Analysts have been watching Under Armour and other retail competitors such as Nike for progress in trimming inventories as many consumers have shifted discretionary spending as inflation pounds their budgets. Executives said that they have seen strong demand but the company is aware that economic issues facing consumers haven’t abated.
Write to Denny Jacob at [email protected]
Copyright ©2022 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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