Consumer
Under Armour Returns Founder Plank to CEO, Ousting Linnartz
- Former Marriott chief Linnartz leaves after just over a year
- Market greets management shift warily, sending shares down
Kevin Plank
Photographer: Rob Carr/Getty ImagesUnder Armour Inc. said its founder, Executive Chairman Kevin Plank, would return to the role of chief executive officer, ousting Stephanie Linnartz after she led just over a year of fitful efforts to reinvigorate the athletic brand.
Plank will return to the CEO job April 1, Under Armour said Wednesday. Linnartz will remain an adviser to the company through April 30. Lead director Mohamed El-Erian, an economist and a columnist for Bloomberg Opinion, will succeed Plank as chairman.