MARYLAND GOVERNOR-ELECT WES MOORE STEPS DOWN FROM UNDER ARMOUR'S BOARD OF DIRECTORS

Rhea-AI Summary

Under Armour (NYSE: UA, UAA) announced that Wes Moore has resigned from its Board of Directors, effective immediately, due to his election as governor of Maryland. Kevin Plank, Executive Chair, expressed gratitude for Moore's leadership and contributions since joining the board in October 2020. Moore was also a member of the Corporate Governance and Sustainability Committee. His departure marks a notable change in Under Armour's leadership structure, prompting questions about potential impacts on the company's strategic direction.

Positive

• Wes Moore's leadership was recognized as dynamic and impactful during his tenure on the board.
• The company maintains a strong commitment to community and athletic empowerment.

Negative

• The loss of Moore may create a gap in leadership and continuity for Under Armour's governance.

BALTIMORE, Nov. 11, 2022 /PRNewswire/ -- Under Armour, Inc. (NYSE: UA, UAA) today announced that Wes Moore has stepped down from its Board of Directors effective immediately due to his election as governor of the state of Maryland.

"On behalf of the entire team, I'd like to congratulate Wes, and thank him for his dynamic leadership as well as the significant contributions he made as a member of Under Armour's board of directors," said Kevin Plank, Executive Chair and Brand Chief. "We wish him well as he embarks on this next chapter as the leader of the great state of Maryland."

"It has been a pleasure serving on Under Armour's board and sharing my passion for purpose and community with the brand," said Wes Moore. "I look forward to seeing this iconic Maryland-based company continue to harness the power of sport to strengthen athletes and communities globally."

Moore, the former CEO of the Robin Hood Foundation, joined the board in October 2020 and served as a member of the Corporate Governance and Sustainability Committee. 

About Under Armour, Inc.

Under Armour, Inc., headquartered in Baltimore, Maryland, is a leading inventor, marketer, and distributor of branded athletic performance apparel, footwear, and accessories. Designed to empower human performance, Under Armour's innovative products and experiences are engineered to make athletes better. For further information, please visit http://about.underarmour.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/maryland-governor-elect-wes-moore-steps-down-from-under-armours-board-of-directors-301675197.html

SOURCE Under Armour, Inc.

FAQ

Why did Wes Moore step down from Under Armour's Board of Directors?

Wes Moore stepped down due to his election as governor of Maryland.

What was Wes Moore's role at Under Armour before stepping down?

Wes Moore served on Under Armour's Board of Directors and was a member of the Corporate Governance and Sustainability Committee.

What are the potential impacts of Wes Moore's departure on Under Armour?

Moore's departure could create a gap in leadership and continuity in Under Armour's governance.

When did Wes Moore join Under Armour's Board of Directors?

Wes Moore joined the Board of Directors in October 2020.

Who acknowledged Wes Moore's contributions to Under Armour?

Kevin Plank, Executive Chair of Under Armour, acknowledged Moore's contributions and leadership.