Under Armour announced Monday that Mohamed A. El-Erian has joined the board of directors for the Baltimore-based athletic apparel brand.
El-Arian is the former CEO and co-chief investment officer of fund manager PIMCO and currently serves as the chief economic advisor at Allianz, PIMCO’s corporate parent in Munich, Germany.Read more
Under Armour founder and CEO Kevin Plank did not enrich himself improperly and ignore shareholders’ interests by seeking through his separate real estate firm to turn Port Covington into a waterfront community anchored by a new global headquarters for the athletic apparel brand, an internal review has found.Read more
Adrienne Lofton, one of Under Armour’s highest-profile executives, is leaving the company.
Lofton, senior vice president of global brand management, “has decided to pursue another opportunity outside of Under Armour,” the Baltimore-based athletic brand said in a written statement.
Adweek quoted two sources on Monday saying Lofton has accepted a post with Nike, Under Armour’s rival.Read more
Under Armour shares rose Thursday after the company posted better-than-expected quarterly sales and said it is on track to become more efficient and strengthen its brand.
Sales growth of 8 percent, to $1.17 billion, for the April-to-June period topped the expectations of analysts, who had called for revenue of $1.15 billion. Sales were $1.09 billion in the same period last year.Read more
Under Armour, a Gold-level sponsor of the Baltimore Pride Parade on Saturday, will outfit all parade volunteers with the PRIDE edition of its UA HOVR Sonic running shoes.
The Baltimore-based athletic apparel brand launched its first UA Pride collection of footwear and apparel on June 4, including a version of the HOVR Sonic.Read more