Under Armour CEO Patrik Frisk is leaving the Baltimore-based athletic apparel maker June 1 after little more than two years at the helm, the company announced late Wednesday.
Frisk, who also serves as president and engineered what the company billed as a recently completed multiyear turnaround of the sports brand, also will step down from the company’s board of directors.
The apparel maker announced the change less than two weeks after posting a quarterly loss and missing revenue projections amid continuing supply chain and coronavirus pandemic-related challenges. The financial performance hammered the company’s stock price, which lost about a third of its value, and left some analysts questioning management’s ability.
