Over twenty-four years ago in 1996, Kevin Plank founded Under Armour and had remained the dominant, leading force in its operation ever since, reigning as CEO for. This has changed recently, with a great deal of noise being made about Kevin Plank’s step-down as CEO in late 2019. The switch is such that Plank will answer to Patrik Frisk who has taken Plank’s former spot on January 1st, 2020. Kevin Plank aims to have a more involved role in the company proceedings, keeping many of the responsibilities of a CEO. Patrik Frisk, who is Under Armour’s current chief operating officer, will be taking over as a “brand chief”. In reality, he will be focusing on the company’s marketing, and many aspects of their product. It’s clear that Kevin Plank will remain in a position of influence, though certainly different than before.
Such a move is not without precedent—Bill Gates famously stepped down as CEO of Microsoft in 2000 after all. Plank is merely the latest in this trend of putting the company first. What UA attributes to its keeping ahead of competitors is the fact that they keep evolving their brand, and put themselves out there in new ways—even developing space-wear for such companies as Virgin Galactic. Any successful business knows it must change and develop, and Under Armour knows this better than most. Kevin Plank says, “Innovation is at the heart and soul of everything we do.”
This also reflects UA’s changing paradigm, shifting more towards technology as the company grows over the years. Those who follow the brand will remember that the brand has rolled out ‘smart shoes’ that are specially designed and record data about your runs and make it available on assorted apps. A useful tool for those who take running as a lifestyle. Regardless of the sentiment, Under Armour has been stagnating in recent years, with profits in its largest market, North America, declining slightly in 2019. In an interview, Kevin Plank makes it clear that this change will help him focus more on the big picture, and hopefully, “…get out of the weeds.” Read More.