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Under Armour CEO stepping down

Photo by istock.com

May 19, 2022

Under Armour CEO and President Patrik Frisk will leave his role as of June 1 and the leisure athletic brand has appointed Colin Browne, COO, as interim chief.

The board has initiated an internal and external search effort, according to a press release. Frisk will remain with the company as an advisor through Sept. 1.

"On behalf of the board, I want to thank Patrik for his valuable contributions to Under Armour over the past five years," Kevin Plank, Under Armour founder, executive chairman and brand chief, said in the release. "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. As we search for Patrik's permanent successor, Colin's experience as a seasoned executive in our industry and leading critical operational aspects of our business will serve Under Armour well as interim CEO."

Frisk joined Under Armour in 2017 and helped architect its long-term strategic plan that included re-engineering its structure, systems and go-to-market process.

"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," Frisk said in the release. "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."

Browne joined the company in 2016 and modernized Under Armour's digital go-to-market strategy and direct-to-consumer model. He has held the role of COO since 2020.