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Sept. 6, 2011 /PRNewswire/ --
Under Armour, Inc. (NYSE: UA) announced today that
Wayne Marino is retiring as Chief Operating Officer of the company. Mr. Marino will transition his areas of responsibility over the next six months and will remain on the executive team. In nearly eight years of service with Under Armour, as Chief Operating Officer and previously as Chief Financial Officer, Mr. Marino has played a lead role in building a foundation for sustainable growth and in guiding the company past the
$1 billion revenue threshold. As part of a series of moves designed to enhance Under Armour's management team and to optimize the growth of the Brand, Under Armour veteran,
Kip Fulks has assumed additional responsibilities and has been appointed Chief Operating Officer, effective immediately.
Mr. Fulks was most recently Executive Vice President of Product, overseeing the company's apparel, footwear and accessories products. As COO, Mr. Fulks will continue to oversee the design and development of the company's products, and will add to his responsibilities the oversight of the company's sourcing and information technology areas.
"Wayne has made significant contributions to the Under Armour Brand and has been a true leader in the development of an operational platform to support a multi-billion dollar global business. I value our friendship and partnership over the years and thank him for his unwavering commitment and service to the Brand," said
Kevin Plank, CEO and Founder of Under Armour. Plank continued, "I have asked Kip, a tested leader at our company with great instincts and proven results in managing growth in product and supply chain, to take on additional responsibility and further align our product and sourcing areas to take the Brand and our business to the next level."
Mr. Fulks will initiate the search for additional senior management personnel, beginning with the newly-created Chief Supply Chain Officer position. "As we continue to deliver best in class product our supply chain is a key priority for the Brand. We will be searching for a newly created position of Chief Supply Chain Officer to lead that critical function. This position will oversee our sourcing, logistics, and distribution functions and be tasked with continuing to build the foundation for supporting a multi-billion dollar global business," said Mr. Fulks.