Under Armour Hires President/CEO

Under Armour Inc. (Baltimore) has hired hotel executive Stephanie Linnartz as President, CEO and member of its Board of Directors, effective Feb. 27, 2023. Her appointment follows a seven-month search for a new leader, after Patrik Frisk stepped away from the top role at the sportswear business.

Linnartz currently serves as the president of Marriott International Inc. (Bethesda, Md.), the world’s largest hospitality company, with a portfolio of nearly 8,200 properties across 138 countries and territories and 30 brands, including The Ritz-Carlton, St. Regis, Marriott Hotels, W Hotels and Westin.

Linnartz is assuming the helm of a company that’s been struggling. During the course of this year, Under Armour’s stock price has dropped roughly by half and last month the retailer lowered its outlook for the 2023 fiscal year.

“As a 25-year veteran of one of the world’s most respected global companies, we are thrilled to welcome Stephanie to the brand,” says Kevin Plank, Under Armour Founder, Executive Chair and Brand Chief. “She is a proven growth leader with a distinguished track record of brand strategy, omnichannel execution, talent acquisition and development, and passion for driving best-in-class consumer connectivity, experience and brand loyalty.”

Linnartz says, “Under Armour is an iconic brand with a huge opportunity ahead. This company has immense energy and excitement, and I am committed to building growth while maintaining operational excellence.”

When Linnartz joins the company, Colin Browne, who has served as interim President and CEO since June, will return to his previous position as Chief Operating Officer.

Under Armour Inc. sells branded athletic performance apparel, footwear and accessories. It currently operates 163 stores across the U.S., and also sells its goods at such retailers as Dick’s Sporting Goods (Pittsburgh).