Under Armour (NYSE:UA, NYSE:UAA) stock is in the news today after the company named Stephanie Linnartz as its next leader. Linnartz will take on the role of CEO at Under Armour starting on Feb. 27, 2023. The exec will also take the position of President and claim a seat on the board.
Linnartz is joining Under Armour with roughly 25 years of experience leading global companies. Her most recent role saw her act as President of Marriott International (NASDAQ:MAR).
The decision to bring Linnartz on as the new CEO was made by a “committee of independent members of Under Armour’s Board of Directors.” With Linnartz taking over the position, current interim CEO Colin Browne will return to his role as COO.
UA Stock Movement Following the CEO News
UA stock investors aren’t having the most positive reception to this news. Trading is fairly light today with some 1 million shares on the move. The company’s daily average trading volume is closer to 3.3 million shares.
To go along with that, shares of UA stock are down 3.1% as of Thursday morning. UA stock is down 53.8% since the start of the year as well.
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.