Under Armour’s Founder Plank to Return as CEO


Apparel maker Under Armour said on Wednesday that founder Kevin Plank will return to the company as CEO, effective April 1.

The company’s shares rose 6 percent to $8.26 after the bell.

Plank founded Under Armour in 1996 and served as the company’s top boss till 2019. In January 2020, Plank was appointed as the company’s executive chair and brand chief.

Under Armour said Plank would succeed Stephanie Linnartz, who will step down as president, CEO and member of the board.

By Arunima Kumar; Editing by Alan Barona and Shounak Dasgupta

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Under Armour Cuts Revenue Forecast on North America Concerns

The athletic-goods maker sees revenue falling 2 percent to 4 percent, down from the previous view of flat to up slightly, but maintained its profit guidance of 47 cents to 51 cents a share thanks to the strength of its second-quarter earnings.

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