Kevin Eskridge, chief product officer, is the latest high-ranking Under Armour executive to exit the brand.
On Tuesday, the Baltimore-based sporting goods company said in a filing with the Securities and Exchange Commission that Eskridge will be leaving on Aug. 15 to pursue other interests.
“During Kevin’s more than 10-year tenure at Under Armour, we’ve transformed from a small U.S. company into a multibillion-dollar global athletic performance brand and his impact on our business has been significant,” said Under Armour president and chief executive officer Patrik Frisk.
Eskridge will receive a lump sum payment of $640,000, a sum equal to one year of base salary, a pro-rated annual incentive award based on the company’s 2020 financial performance, as well as continuation of certain health benefits for a 12-month period, according to the filing.
Frisk took over the ceo post from founder Kevin Plank in January and several changes have been made since then. Earlier this month, Diane Pelkey, the company’s senior vice president of communications, exited the brand after a 12-year career, following Kelley McCormick, senior vice president of corporate communications, who left in September, and Erin Wendell, senior director for communications, who departed in December.
In February, Colin Browne, formerly chief supply chain officer, was elevated to chief operating officer, a role Frisk held before taking over the ceo position. At the same time, Paul Fipps, chief digital officer, was named to the new post of chief experience officer.
After a couple of decades of enviable growth, Under Armour started to stumble around 2017 after one of its largest retail customers, Sports Authority, went out of business and the brand made the controversial decision to try to recoup some of that business by selling to Kohl’s. Under Armour also expanded into a number of product categories and launched a high-fashion, high-priced fashion line designed by Tim Coppens that was abruptly discontinued after only one year.
And the company has continued to struggle with both its sales and scandals — Under Armour had to explicitly ban executives from expensing strip-club visits and the SEC is investigating its accounting practices.
The Swedish-born Frisk was brought on board in 2017 to try and right the ship and his game plan revolves around focusing on performance, rather than lifestyle product.