Under Armour Makes Executive Changes as Longtime COO Departs
Under Armour on Wednesday announced a slew of executive changes as the company rolls out its business transformation plan.
As part of these changes, Under Armour’s chief operating officer Colin Browne will step down from his role this fall “to pursue other opportunities,” according to a release. Browne, who joined the company in 2016, served as interim CEO between June 2022 and February 2023. Under Armour’s chief product officer Lisa Collier will also leave the company in August and the company’s head of apparel Dan Leraris will serve as interim CPO until a successor is named.
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Under Armour has also named Jim Dausch as EVP, chief consumer officer, effective next month, and has promoted Danny Miles to EVP, chief technology officer.
Dausch currently serves as the global chief product and digital officer at Marriott International, Inc., the same company that Under Armour’s CEO Stephanie Linnartz spent 25 years at before joining Under Armour as the company’s first woman CEO in February.
“Jim is a seasoned executive with deep experience leading transformational initiatives, including digital expansion, global loyalty programs, and launching new businesses and brands,” said Linnartz in a statement. “I am confident that his world-class leadership will help unify our team of extremely talented teammates to help drive the next phase of our growth.”
The news comes as Under Armour rolls out a plan to revamp its business via its Protect This House 3 (PTH 3) plan. The strategy involves focusing on reinvigorating brand DNA, key product areas and growing business in North America.
As part of this plan, Under Armour recently cut 50 roles across various units in its corporate workforce to help reduce expenses and move towards profitability.
In its Q4 results reported in May, Under Armour reported that adjusted earnings per share came in at 18 cents, 3 cents ahead of the 15 cents analysts projected on average, according to FactSet. Revenues rose 7.5 percent to $1.4 billion from $1.3 billion. The company offered weak guidance for fiscal 2024, with Linnartz laying out the plan to reshape the brand.
“We know there is much work ahead of us and that we must move with urgency,” she said, describing fiscal 2024 as a “year of building as we lay the groundwork aligned with our priorities.”
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