Suzanne Karkus, senior vice president of apparel at Under Armour Inc., has resigned.
Under Armour said the executive was leaving to pursue other interests. The company has named Matthew Mirchin, senior vice president of sales for North America, interim head of its North American wholesale apparel unit while it searches for Karkus’ successor.
In a regulatory filing with the Securities and Exchange Commission, the Baltimore-based performance apparel firm said that following Karkus’ departure on Feb. 16, she would be paid six months’ salary, or $200,000 based on her 2008 compensation, pursuant to the employment agreement inked when she joined the firm in January 2008. That contract called for her to receive a half year’s pay in the event her employment was terminated “under certain circumstances.” The company has yet to provide salary information for 2009. Karkus will also receive $120,000 “primarily to cover her transition and other expenses.”
Prior to joining Under Armour, Karkus was president of Izod Womenswear for four years and, during a six-year tenure with Calvin Klein Jeanswear, advanced to president of its women’s division.
While Under Armour has struggled with its fledgling investment in footwear, the apparel business has continued to flourish. In the fourth quarter ended Dec. 31, apparel revenues increased 26 percent to $192.1 million, 86.5 percent of the corporate total. By contrast, footwear revenues, while up 60.6 percent for the full year, fell 5.1 percent to $8.7 million in the quarter.
Raphael Peck resigned as Under Armour’s senior vice president of footwear in June.
Calls seeking comment from Under Armour weren’t returned.