Kevin Plank, the founder of Under Armour, is returning to the helm of the Baltimore-based athletic wear maker, the company announced in a Wednesday afternoon press release. Plank is set to be president and CEO starting April 1. He will succeed Stephanie Linnartz, who had been in the position for little more than a year. Linnartz, the former president of hotel chain Marriott International, is also stepping down from Under Armour’s board of directors, but will advise the company through April 30.
Total Retail’s Take: The hiring of Linnartz just over a year ago was an out-of-the-box decision given her lack of experience in the retail industry. Many industry analysts considered it a risk. Well, apparently Under Armour’s board wasn’t pleased with the progress she was making in turning around the challenged business and has decided to once again move in another leadership direction. Plank coming back to the CEO role he once held marks the fourth chief executive the brand has had in the last four years. This is indicative of a business at a crossroads — does it continue with many of the initiatives that Linnartz was in the process of building (e.g., new product design, an evolved consumer strategy) or does it return to its roots with Plank back at the helm? Time will tell — not that Linnartz had much of it.
