After a seven-month search, Under Armour said it had chosen Marriott President Stephanie Linnartz to be its next CEO
The company is banking on Linnartz's experience leading Marriott's multibillion-dollar digital transformation to accelerate Under Armour's online initiatives.
During her tenure at Marriott, Linnartz grew its Bonvoy loyalty program to 173 million members and delved into the sports world when she developed multi-year partnerships with the NFL, the NCAA and the Mercedes-AMG PETRONAS F1 Team. She is also a member of Home Depot's board of directors. She will be able to bring that retail background and insight to the position, Plank said.
Plank said he will remain as brand chief and executive chairman, and will continue to be "involved in the business in an important way."Under Armour began with humble roots in 1996. Plank, a former football player, developed the prototype for the brand's signature moisture wicking shirt while a student at the University of Maryland and later perfected his designs out of his grandmother's basement in Georgetown.
By 2005, he took the Baltimore-based company public and on its first day of trading, its value doubled.Most recently, the company reported $1.57 billion in sales in their fiscal second quarter, up 2% from the prior year, along with a net income of $87 million.
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