Under Armour appoints former PIMCO CEO to its board of directors

The Baltimore Sun

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.

“For more than a decade now, I’ve followed and admired Under Armour as it has grown to become one of the world’s largest athletic performance brands,” El-Erian said in a statement. “I’m honored to join the board of directors and to work with a management team that’s committed to creating long-term growth and returns for shareholders."

Before joining California-based PIMCO in 1999, El-Arian worked at the International Monetary Fund and Salomon Smith Barney/Citigroup in London. He left PIMCO in 2006 to become president and CEO of Harvard Management Co., which runs the university’s massive endowment, before being hired back in 2007 as CEO and co-chief investment officer, jobs he held until 2014.

From 2012 to 2017, he was chair of the President Barack Obama’s Global Economic Development Council. He’s also a columnist for Bloomberg and a contributing editor at the Financial Times.

"We’re excited to welcome Mohamed to our board,” said Kevin Plank, Under Armour’s chairman and CEO, in a statement. “Mohamed’s renowned international, macroeconomic and financial expertise are welcomed strengths as we lean even more deeply into our transformation, driving greater operational excellence, financial discipline and shareholder returns as we continue to drive our brand forward around the world.”

Copyright © 2019, The Baltimore Sun, a Baltimore Sun Media Group publication | Place an Ad