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Under Armour's new CEO met with depressed stock
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Monday will mark the first day on the job for new Under Armour President and CEO Stephanie Linnartz, who takes the helm of the sportswear company as the company’s stock price has been depressed over the last year.
As of the market close on Friday, the stock price for Under Armour had fallen by over 45% over the past year to $9.72 per Class A share. That’s significantly more than the 9.23% decline the S&P 500 experienced in the same timeframe, while the stock of Under Armour’s apparel industry rival Nike declined by 13.56% in the same span.
"Under Armour is an iconic brand with a huge opportunity ahead," Linnartz said in a press release. "This company has immense energy and excitement, and I am committed to building growth while maintaining operational excellence. I look forward to joining the incredible UA team, partnering with Kevin and the board, and leading this amazing company into its next chapter, delivering for athletes, teammates, customers, and shareholders."
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