Under Armour, Inc. announced that Kevin Plank will become President, effective April 1, 2024. Plank will succeed Stephanie Linnartz, who will be stepping down as President and member of the Board. In connection with Plank's appointment, Dr. Mohamed A. El-Erian, an independent director since 2018 and Lead Director since 2020, will become the non-executive Chair of the Board.

Plank, who will transition from Executive Chair of the Board, will remain a director. Linnartz will remain an advisor to the company through April 30, 2024. Plank founded Under Armour in 1996, and since then, he has been the driving force behind its innovative products and brand.

From 1996 to 2019, he served as Under Armour's Chief Executive Officer and Chair of the Board of Directors. In January 2020, Plank was appointed Executive Chair and Brand Chief. Dr. Mohamed A. El-Erian is the President of Queens' College, University of Cambridge.

Since 2014, he has served as Chief Economic Advisor at Allianz, the corporate parent of PIMCO, where he was chief executive and co-chief investment officer (2007-2014). He is Chair of Gramercy Fund Management, a columnist for Bloomberg Opinion, and a contributing editor at the Financial Times. He is a professor of practice at the Wharton School of the University of Pennsylvania and a Senior Global Fellow at the Lauder Institute there.

Before PIMCO, Dr. El-Erian was a managing director at Solomon Smith Barney/Citigroup in London, and before that, he spent 15 years at the International Monetary Fund in Washington, D.C., where he served as Deputy Director before moving to the private sector. Dr. El-Erian holds bachelor's and master's degrees from Cambridge University and a master's and doctorate from Oxford University.