Under Armour shuffles leadership in America region, designating a new president.
Under Armour, the American athletic wear company, is experiencing a significant shift in its leadership as several key executives depart or take on new roles.
Patrik Frisk, who was hand-picked by Under Armour's founder, Kevin Plank, to lead the company as CEO, left his position in June 2022, marking the end of a two-year tenure. Frisk's departure was a surprise to many analysts, signalling a change in philosophy at Under Armour.
In a related development, Stephanie Pugliese, the president of Under Armour's Americas division, is leaving the company after three years. Pugliese will stay with the company until early 2023 to help with the transition. Under Armour has entered into a separation agreement with Pugliese, and she will receive severance benefits, insurance benefits for 18 months, and a lump sum of one and a half times her annual base salary.
Replacing Pugliese as President of the Americas region is Scott Brunette, who took over the position in February 2020.
John Stanton, Under Armour's Chief Legal Officer, is retiring at the end of the year. Mehri Shadman, a nine-year Under Armour veteran currently serving as deputy general counsel, corporate and risk, and assistant corporate secretary, will replace Stanton effective Oct. 24. Shadman oversees global ethics and compliance, data privacy, and enterprise risk management at Under Armour.
Before joining Under Armour, David Baxter served as CEO of Lids Sports Group for three years. He joined Under Armour in 2020 and is currently the senior vice president of Americas Wholesale. Baxter will take over as president of Under Armour's Americas division effective Oct. 24.
These changes at Under Armour come as the company continues to navigate the challenges of the global athletic apparel market. The new leadership team is expected to bring fresh perspectives and strategies to help the company maintain its competitive edge.
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