Kevin Plank, founding father of Beneath Armour, throughout a CNBC interview on “Mad Cash” on Feb. 28, 2018.
Scott Mlyn | CNBC
Beneath Armour introduced on Wednesday that CEO Stephanie Linnartz is stepping down from her position simply over a yr after she began, and founder Kevin Plank will return because the model’s chief govt.
Linnartz took over as Beneath Armour’s CEO in February 2023 after spending practically 30 years at Marriott Worldwide, most just lately as its president. Plank, who based Beneath Armour in 1996, stepped down as CEO about 4 years in the past however has stayed on because the athletic firm’s chairman.
Plank will take over on April 1 and Linnartz will keep on with the corporate as an advisor via the tip of April.
Plank will stay a director on Beneath Armour’s board however will hand over the chair place to Mohamed El-Erian, chief financial advisor at Allianz, Pimco’s guardian firm.
Linnartz, who spent the vast majority of her profession within the hospitality enterprise, was tapped to guide Beneath Armour due to her expertise constructing out digital gross sales and growing Marriott’s famend loyalty program Bonvoy.
Since taking the helm of Beneath Armour, she launched UA Rewards and had plans to construct out the model’s ladies’s assortment to develop its buyer base.
“On behalf of the total crew, I need to thank Stephanie for her contributions to Beneath Armour. We deeply recognize her onerous work and dedication,” Plank mentioned in an announcement. “Throughout her tenure, she strengthened the management crew with govt hires in vital areas, together with product, design, provide chain, client connectivity, and regional administration. Her prior expertise main main manufacturers was instrumental in focusing our client technique.”
In an announcement, Linnartz mentioned she feels “honored” to have served as Beneath Armour’s CEO.
“I’m happy with our progress towards our strategic plan, together with strengthening our crew, evolving our merchandise and advertising, and rising our concentrate on profitability,” mentioned Linnartz. “We’ve got a robust basis in place for future progress and the corporate’s potential is limitless. I’ll proceed to root for Beneath Armour’s success.”
