Under Armour's new CEO Patrik Frisk will face challenges - Business Insider

, the brand's founder and longtime leader, Kevin Plank, stepped down from his role as CEO after 23 years. Plank will hand over his duties to Patrik Frisk officially on January 1.

Frisk, who joined Under Armour as its COO in 2017, previously served as CEO of Aldo Group and has nearly 30 years of experience in the retail sector. Frisk will take the helm at a tricky time for Under Armour. Revenue growth has dropped from double-digit to single-digit figures as sales in its core North American market have continued to fall. Under Armour CEO Kevin Plank explains how he's getting the company back on the front foot after a bumpy 3 yearsWinning back customers in its core North American market, which accounts for 68% of its sales, and boosting revenues there.

Forging a distinct position for the brand as the market becomes increasingly crowded with other options for athletic wear.

That is a man? Could have fooled me.

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Kevin Plank is stepping down as CEO of Under Armour - Business InsiderPlank, who founded the company in 1996, will become executive chairman and brand chief. COO Patrik Frisk will take on his duties as the new CEO.
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