Under Armour Inc (NYSE:UAA) announced that it has made strategic executive changes to align its organizational structure. As part of new changes, the company has appointed Patrik Frisk as president and chief operating officer, effective July 10.
Frisk will focus on the company’s go-to-market strategy as well as will be responsible for the execution of the company’s long-term growth plan, Under Armour said in a statement. He will report directly to CEO Kevin Plank.
Frisk has around 30 years of experience in the apparel, footwear and retail industry.
“Patrik’s global experience in brand building, including a proven and disciplined record of driving growth, while enhancing profitability and efficiency, will be instrumental as we work to transform our business model to deliver long-term value for our consumers, customers and shareholders,” Plank said.
“The opportunity to leverage our strengths – innovative product, brand strength, premium sports marketing assets and unparalleled consumer connections – within an increasingly more digital ecosystem has never been greater,” Plank added.
Most recently, Frisk led global footwear and accessories firm The ALDO Group as CEO.
Prior to that, Frisk served as the Coalition President of Outdoor Americas at VF Corporation, managing The North Face, Timberland, JanSport, lucy and SmartWool brands. Before that, Frisk worked as president of the Timberland brand.
Other Management Changes
In addition to Frisk’s appointment, Under Armour Inc (NYSE:UAA) named Paul Fipps as chief technology officer. He will be responsible for expanding the company’s digital presence. Fipps will oversee operations of the company’s and mobile applications, as well as its information technology and real estate functions.
Under Armour said that Fipps will also lead its Connected Fitness business with Michael Lee, who is chief digital officer and head of Connected Fitness.
“This realignment integrates the company’s digital ecosystem including its single view of the consumer data and additional SAP capabilities to fuel product creation and personalization, increase speed to market and accelerate consumer value,” the company said in the statement.
Additionally, Colin Browne was named chief supply chain officer, taking responsibilities for all global operations related to product sourcing and logistics. Browne joined Under Armour in 2016 as president of global sourcing.
Last month, Under Armour appointed Kevin Eskridge as chief product officer. Eskridge oversees the company’s category management model as well as its product, merchandising, design and innovation functions. He has been with the company since 2009.
Under Armour has been competing with Nike and Adidas in the sports footwear and apparel.
Meanwhile, shares of Under Armour Inc (NYSE:UAA) closed up 1.70% on Monday. The stock is down more than 25% so far this year.