Under Armour stock is up more than 2 percent to trade near $95.39 after the sports brand made a series of organizational changes. The changes are following the announcement that Brad Dickerson, who held the roles of chief financial officer and chief operating officer, was leaving. Dickerson had been with the company since 2004 and will leave in February.
Kip Fulks will be the chief marketing officer in which he’ll focus on key development areas in the company’s business. His previous position was president of footwear.
Henry Stafford will continue as chief merchandising officer, but will take on an expanded role to oversee Under Armour’s footwear and innovation groups. Stafford will oversee all aspects of the company’s product and product development for apparel, footwear and accessories. He will also be responsible for oversight of the new category management group. This new group will be led by Adam Peake, who is now executive vice president of the category management group.
Peake replaces Terdema Ussery, who is no longer with the company. Ussery who joined Under Armour in July and was a former chief executive officer for the Dallas Mavericks and had been with the NBA team for 18 years.
Karl-Heinz “Charlie” Maurath is now chief revenue officer. His previous position was president of international. Maurath will lead all global sales channels, including global wholesale, retail stores and e-commerce for all of the company’s regions. Under Maurath, international business grew 96 percent last year.
Year-to-date Under Armour stock is up 40 percent, but in the past three months the stock has started to lose momentum and fell 3.6 percent. The stock really fell on the news that Dickerson was leaving and had slowly started to crawl back up.