Under Armor CEO steps down after 2 years at the helm of the sportswear giant

  • Patrick Frisk, under protection CEO, is stepping down as of June 1.
  • COO Colin Browne will become interim president and CEO until the company finds a permanent successor.

Under Armor announced on Wednesday that CEO Patrik Frisk is stepping down after 2 years at the helm of the apparel company.

Frisk will step down as CEO, chairman and board member effective June 1, Under Armor said in a statement. Press release.

The company said its chief operating officer, Colin Browne, will succeed Frisk as interim president and CEO until the company finds a permanent successor. Under Armor gave no explanation as to why Frisk was stepping down.

Frisk, who joined Under Armor in 2017 and was named CEO in January 2020, will remain with the company as an advisor until September 1 to help with the transition, the company said.

“It has been the greatest privilege of my career to serve the athletes, customers, shareholders and teammates of Under Armour,” Frisk said in the press release. “I am extremely proud of what we have achieved as a team.”

Browne started at the Maryland-based company in 2016 and took on the role of COO in 2016.

Frisk’s permanent successor will be responsible for guiding the company through a potentially difficult period. In his last quarterly resultsUnder Armor said inflation, ongoing supply chain challenges and uncertainty surrounding COVID-19 are all factors affecting its outlook for the year ahead.

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