Change of leadership at the US sporting goods group Under Armour: CEO Patrik Frisk resigns on June 1 after just under two and a half years and also gives up his seat on the board of directors. This was announced by the Adidas rival on Wednesday (local time) in Baltimore. Frisk’s successor will initially be Colin Browne. He is responsible for day-to-day business on the Executive Board. However, Browne is only taking on the top job temporarily until a permanent solution is found.
Frisk joined Under Armor in 2017. He previously managed the operations of shoe company The Aldo Group. In January 2020 he replaced company founder Kevin Plank as CEO. But Under Armor is struggling. The sporting goods manufacturer recently disappointed with a quarterly loss and a weak business outlook. The share collapsed massively, since the beginning of the year the stock market value has more than halved. After-hours trading on Wednesday initially continued downhill. (dpa)