More changes are underway at Under Armour.
Ryan Drew, previously the general manager of the company's basketball division, will take over Ruppe's position.
Under Armour pinned a lot of its growth expectations on the continued expansion of its footwear business. However, sales have slowed in the segment and the company's stock has tanked over the last 18 months.
Under Armour's shoe segment accounts for less than a quarter of the company's overall annual revenue and growth in the division was at just 2% year over year.
NBA All-Star and recent world champion Steph Curry continues to be the company's most visible footwear ambassador, but the company's roster also includes Tom Brady, Cam Newton and The Rock.
Under Armour shares were down nearly 6% Tuesday afternoon.