C-Suite Transitions – Under Armour Attempts A Turnaround After A Lost Decade

Welcome to edition 21 of  C-Suite Transitions, a weekly series on InsideArbitrage that tracks appointments and departures at publicly traded companies during the prior week. We highlight five appointments and departures each week by picking the largest companies from the full list of management changes.

1. Accuray (ARAY): On December 19, 2022, Franco Palomba provided Accuray Incorporated with notice of his intent to resign from his position as Chief Accounting Officer effective January 3, 2023, due to personal reasons.
2. ENDRA Life Sciences (NDRA): On December 21, 2022, Renaud Maloberti notified ENDRA Life Sciences Inc. of his resignation as the company’s Chief Commercial Officer, effective January 13, 2023.
3. Kingstone Cos (KINS): On December 21, 2022, Richard Swartz, Chief Accounting Officer and Treasurer, intends to resign for personal reasons to pursue other opportunities effective as of December 31, 2022.

Marriott Veteran Stephanie Linnartz Announced the New CEO of Under Armour

Athletic apparel and footwear company Under Armour was all the rage in the 2000s thanks to its innovation in sports apparel and rapid growth. Unfortunately the company lost its way over the last decade. While revenue has more than doubled from $2.33 billion in 2013 to $5.20 billion in fiscal 2022, the stock is down more than 20% over the last ten years. The underperformance is even starker when you consider how well athelisure apparel has done during that time period. The following chart comparing the performance of Under Armour with Nike (NKE) and Skechers (SKX) highlights just how much the stock is out of favor with investors.

Founded in 1996 by Kevin Plank, Under Armour (UAA) is an innovator, marketer, and supplier of branded athletic performance apparel, footwear, and accessories based in Baltimore, Maryland.

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