Under Armour, Inc. (NYSE 🙂 announced today that Patrik Farrell will be retiring as president and CEO, and as a board member, as of June 1, 2022.

Colin Browne was named interim president and CEO of the company until a new leader is chosen. Frisk joined the company in 2017 and will continue to serve as advisor until September 1, 2022.

Kevin Plank (Under Armour Chairman and Founder) thanked Frisk and stated that the company was “committed” to finding additional opportunities for improved returns for shareholders as well as delivering for athletes, partners and colleagues.

Under Armour’s shares fell 50% in the year up to the announcement by CEO Frisk and about the same as the amount that was lost since Frisk became CEO.

By Davit Kirakosyan