(Reuters) – Wearing Under Armour Inc (NYSE 🙂 stated Wednesday that Patrik Frist would be stepping down from his position as president/chief executive officer effective June 1.

The shares of Baltimore-based firm fell by 2.2% during extended trade.

While it looks for a permanent replacement, the apparel manufacturer named Colin Browne Chief Operating Officer.

As other U.S. businesses, the company is currently facing supply chain disruptions as well as China lockdowns which have led to its share price dropping more than 50%.

Under Armour (NYSE) announced that Frisk joined Under Armour as an advisor in 2017. He will continue to be with the company through September 1.

Browne, who joined Under Armour as a soldier in 2016, has served as its chief operating officer since 2020.