Under Armour Leadership Changes and Governance Update

The latest announcement is out from Under Armour Inc – Class C (UA).

Under Armour, Inc. has announced a significant leadership transition with President and CEO Stephanie C. Linnartz set to depart at the end of March 2024, after which she will continue as an advisor to ensure a smooth transition. She will receive a $2.6 million cash payment and additional benefits as part of her separation agreement. Concurrently, company founder Kevin A. Plank will reassume the role of President and CEO, while Mohamed El-Erian steps in as the new independent Chair of the Board, aligning with a corporate governance update that mandates an independent non-employee director to hold this position.

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