Under Armour Changes Leadership in Americas Region

Under Armour, the American athletics brand, has announced a series of changes in its leadership team. The most notable change is the return of Kevin Plank, the company's founder, as CEO, effective from April 1st. This move comes after Patrik Frisk stepped down from the role a few months ago.

Patrik Frisk's departure, two years into his tenure as CEO, came as a shock to many analysts. His departure has paved the way for Kevin Plank's return, signalling a potential change in philosophy for the company. According to Tom Nikic, senior analyst of apparel and footwear at Wedbush, this change could mark a significant shift in how Under Armour is run, with differences between Patrik's and Kevin's leadership styles becoming apparent.

David Baxter, who brings extensive experience from athletics brands Reebok and Adidas, is taking over as president of Under Armour's Americas division effective Oct. 24. Baxter was previously the senior vice president of Americas Wholesale at Under Armour and served as CEO of Lids Sports Group for three years. His return to the company is expected to bring fresh perspectives and strategies to the table.

Stephanie Pugliese, the current president of Under Armour's Americas division, is leaving the company after three years in the role. Pugliese will stay until early 2023 to help with the transition. Under Armour has entered into a separation agreement with Pugliese and will offer her severance benefits, cover her insurance benefits for 18 months, and pay out a lump sum of one and a half times her annual base salary.

Mehri Shadman, a nine-year Under Armour veteran, is set to replace John Stanton as Under Armour's Chief Legal Officer effective Oct. 24. Shadman currently oversees global ethics and compliance, data privacy, and enterprise risk management at the company. Her extensive experience and knowledge of Under Armour's operations are expected to be valuable in her new role. John Stanton, Under Armour's current Chief Legal Officer, is retiring at the end of the year.

Under Armour is shaking up more of its leadership team, but the level of growth that the company should be achieving remains a point of contention. The changes are aimed at driving the company towards success and ensuring its continued growth in the competitive athletics market.