Under Armour Appoints New President and COO
Under Armour uaa announced Tuesday that it will make a shoe company executive it’s new president and chief operating officer as the company tries improve footwear sales, according to The Wall Street Journal.
Patrik Frisk, who previously served as the CEO of the footwear company Aldo, will be responsible for laying out a long-term growth plan as Under Armour tries to compete with companies like Nike nke and Adidas. In 2015, the company decided to phase out the COO position and divide the responsibilities among other executives.
Under Armour started off in sports apparel, adding footwear to its company in 2006. With an annual revenue of $4.8 billion, the company is trying to improve shoe sales to compete with Nike and Adidas, whose primary sales are shoe driven.
Since the company’s birth, it has used celebrity athletes, and partnerships with professional and college athletic teams to get its product in front of the consumer. The company is now dealing with a decrease in demand for performance gear, fewer visitors at retail stores, and increased competition, the Journal reported.
The company also named Paul Fipps, chief technology officer and Colin Browne, chief supply chain officer, according to MarketWatch.
