News June 29, 2017
Under Armour Names Frisk as President
Baltimore-based Under Armour has appointed Patrik Frisk as its new president and COO, effective July 10. In accepting the position, Frisk resigned his post as a director at Gildan Activewear (asi/56842). Frisk’s experience in the apparel industry also includes stints as the CEO of footwear company Aldo and 10 years as coalition president of Outdoor Americas with the VF Corporation, where he was responsible for brands like The North Face. At Under Armour, Frisk will report to chairman and CEO Kevin Plank.
“Patrik’s global experience in brand building, including a proven and disciplined record of driving growth, while enhancing profitability and efficiency, will be instrumental as we work to transform our business model to deliver long-term value for our consumers, customers, and shareholders,” said Plank. “The opportunity to leverage our strengths; innovative product, brand strength, premium sports marketing assets, and unparalleled consumer connections within an increasingly more digital ecosystem has never been greater.”
At Under Armour, Frisk will be tasked with creating a plan to compete with Nike and Adidas, as well as dealing with retail market challenges. Frisk’s hiring comes at a time when demand for Under Armour’s performance gear has decreased, according to the Wall Street Journal, as retailers struggle with less foot traffic.
Besides the addition of Frisk, Under Armour also announced several other leadership changes. The firm named Paul Fipps as chief technology officer, Colin Browne as chief supply chain officer, and Kevin Eskride as chief product officer.