Business

Under Armour shares jump after news that founder Kevin Plank will return as CEO

By
Reuters
Published March 13, 2024, 5:41 p.m. ET

Apparel maker Under Armour said Wednesday that founder Kevin Plank will return to the company as CEO, effective April 1.

The company’s shares rose 6% to $8.26 after the bell.

Kevin Plank
Kevin Plank is returning as CEO of Under Armour. AFP/Getty Images
Under Armour clothing
Under Armour shares rose 6% after hours. REUTERS

Plank founded Under Armour in 1996 and served as the company’s top boss till 2019. In January 2020, Plank was appointed as the company’s executive chair and brand chief.

Under Armour said Plank would succeed Stephanie Linnartz, who will step down as president, CEO and member of the board.