UNDER ARMOUR ANNOUNCES CHANGES TO EXECUTIVE LEADERSHIP TEAM

Rhea-AI Summary

Under Armour, Inc. (NYSE: UA, UAA) announced significant changes in its executive leadership team effective October 24, 2022. David Baxter will take on the role of President of the Americas, succeeding Stephanie Pugliese, who is stepping down but will assist in the transition until early 2023. Additionally, Mehri Shadman has been appointed Chief Legal Officer, succeeding John Stanton, who will retire after 16 years with the company. Both new appointees bring extensive experience, with Baxter previously leading LIDS Sports Group and Shadman serving as Deputy General Counsel at Under Armour.

Positive

• David Baxter brings extensive retail and marketing experience, potentially beneficial for Under Armour's growth.
• Mehri Shadman's long tenure at Under Armour and legal expertise may strengthen corporate governance and compliance.

Negative

• The departure of experienced leaders like Stephanie Pugliese and John Stanton could create continuity challenges.
• Transition periods may present operational risks during leadership changes.

BALTIMORE, Oct. 5, 2022 /PRNewswire/ -- Under Armour, Inc. (NYSE: UA, UAA) today announced that effective October 24, David Baxter and Mehri Shadman will join its executive leadership team. Baxter is set to assume a regional leadership role as President of the Americas, succeeding Stephanie Pugliese, who will be stepping down from her role and leaving the company. Pugliese will remain until early 2023 to support Baxter's transition. Shadman has been appointed Chief Legal Officer and Corporate Secretary as John Stanton, UA's current chief legal officer, has decided to retire at the end of 2022 after 16 years of service. 

"We're very excited to recognize the talent that David and Mehri bring to our business," said Colin Browne, Under Armour Interim President and CEO. "With deep market knowledge and outstanding expertise – we look forward to their proven leadership qualities helping to architect our next growth chapter."

Browne continued, "As one of our longest serving executives, we want to congratulate John on his retirement and thank him for his many contributions to UA, including building our legal function from a small team following our initial public offering to a world-class global function. We also thank Stephanie for her contributions to Under Armour over the last three years, particularly her leadership of our largest region during a highly uncertain retail environment."

Before joining Under Armour in 2020 as Senior Vice President, Americas Wholesale, David Baxter served as President and CEO of LIDS Sports Group from 2016 to 2019. Prior to that, he was Vice President of adidas's America's Sport Performance division from 2010 to 2014, where he directed the North American product and marketing strategies. Before that, Baxter oversaw adidas and Reebok's sports licensed businesses with the major U.S. professional sports leagues. For nine years prior to that role, Baxter held various leadership roles at Reebok, including time spent in their on-field and sports-licensed divisions.

Mehri Shadman brings over 15 years of experience providing legal counsel in-house and in private practice. Currently the Deputy General Counsel, Corporate and Risk, and Assistant Corporate Secretary, she has spent nine years at Under Armour providing counsel to its board of directors and executives on complex and high-profile corporate matters. She currently oversees the corporate, global ethics and compliance, data privacy, and enterprise risk management functions. In her new role, she will oversee the company's global legal function and serve as corporate secretary. Before Under Armour, Shadman began her career as an associate at Fried, Frank, Harris, Shriver & Jacobson LLP, a renowned global law firm, in its capital markets practice.

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.

 

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SOURCE Under Armour, Inc.

FAQ

What changes were announced in Under Armour's executive leadership team?

Under Armour announced that David Baxter will become President of the Americas, and Mehri Shadman has been appointed Chief Legal Officer, succeeding Stephanie Pugliese and John Stanton respectively.

What is the background of David Baxter, the new President of the Americas at Under Armour?

David Baxter has previously served as President and CEO of LIDS Sports Group and held leadership roles at adidas, bringing a wealth of experience in retail and marketing.

Who is Mehri Shadman, the new Chief Legal Officer of Under Armour?

Mehri Shadman has over 15 years of legal experience, having served as Deputy General Counsel at Under Armour and providing counsel on complex corporate matters.

When do the leadership changes at Under Armour take effect?

The leadership changes at Under Armour will take effect on October 24, 2022.

What roles are Stephanie Pugliese and John Stanton transitioning from Under Armour?

Stephanie Pugliese is stepping down as President of the Americas, while John Stanton is retiring from his position as Chief Legal Officer after 16 years.