There is an executive shakeup under way at Under Armour Inc.
Just a few weeks after announcing that CFO and COO Brad Dickerson will exit in February, Under Armour has filed federal documents stating that former CEO and president of the NBA championship-winning franchise Dallas Mavericks, Terdema Ussery II, has tendered his resignation.
Ussery was president of global sports categories at Under Armour for just three months — the firm announced his hiring in July, with a start date of Sept. 14. CEO Kevin Plank had set high expectations for the incoming executive. During his tenure, Ussery was responsible for organizing category management of all brand and business units internationally.
As part of its executive-transition process, Under Armour plans to assign key operational duties of the COO role to the company’s current executive leadership team.
Adam Peake, former EVP of global marketing, has been appointed EVP of category management and will also replace Ussery.
Kip Fulks, previously president of footwear and innovation, has assumed a new role — acting chief marketing officer — in which he will oversee all marketing efforts across the company. He will also lead Under Armour’s search for a new CMO and will continue to “lead significant strategic initiatives” after that, the company said.
Henry Stafford will continue to serve as chief merchandising officer and has taken on an expanded role, overseeing the company’s footwear and innovation groups. Stafford will also oversee Under Armour’s new category-management group, which will be led by Peake.
Karl-Heinz Maurath, previously the company’s president of international, has assumed the role of chief revenue officer. Maurath will lead all global sales channels, including global wholesale, retail stores and e-commerce, for all of the company’s regions, which include North America, Latin America, Europe, Asia-Pacific and the Middle East & Africa.
Under Armour’s share price was up 1.44 percent at press time.