Under Armour CEO exits business in refocus Activewear giant Under Armour announced Wednesday that its chief executive and president Patrik Frisk will step down, naming current COO Colin Browne as interim CEO. Frisk will exit the business on June 1, and remain in an advisory role through to September 1. The shift is expected to take Under Armour out of a ‘restructuring’ phase and into one of growth, and comes just days after the business put forward a profit estimate for the FY23 full year, w
l year, which fell below estimates, as it struggles with supply chain disruptions and the impact of renewed Covid-19 lockdowns in China.
According to the Business of Fashion, Under Armour suffered a 14 per cent decline in revenue in its Asia-Pacific region largely as a result of a drop in trade in China. Shares have fallen in the business by almost 33 per cent in the last year.
“It’s the right time for the business to really pivot,” executive chairman Kevin Plank, who founded the company in 1996, said according to Bloomberg.
“We’re ready for the next chapter to begin.”
Nike’s diversity chief quits after two years
Nike’s chief talent, diversity and culture officer Felicia Mayo has said she will exit the business in July, having taken up the role in 2020.
The sportswear retailer’s VP of diversity, equity and inclusion Jarvis Sam will take on a newly created role, chief diversity, equity and inclusion officer, in order to bring Mayo’s role into his own.
According to the Business of Fashion, Mayo joined the business in 2019 and replaced then outgoing head of diversity Kellie Leonard, who had taken on the role to shape Nike’s culture following a New York Times article described the business as a ‘boy’s club’ in which women were routinely harassed and overlooked.
The change was leaked via an internal memo seen by The Financial Times.
Estée Lauder appoints new SVP of Travel Retail, APAC
The Estée Lauder Companies has named Karen Housman as its new senior vice president and general manager of travel retail in the Asia Pacific region. Housman will start the role on 1 July.
Housman joined ELC in 2017, and will be based in Singapore for the role.
“Karen is a highly respected professional across the beauty industry with a track record of building innovative teams who continually set the bar for excellence,” the Estée Lauder Companies global president of travel retail Israel Assa said.
“In addition, with her strong retailer relationships and deep understanding of consumer behaviour, I look forward to seeing how she will steer the travel retail Asia Pacific region to capture the next generation of growth.”
Pomelo appoints vice president, head of sustainability
Thai fashion brand Pomelo has appointed Kevalin Athayu as its new vice president and head of sustainability.
In her new roles, Athayu will be responsible for focusing the business’ sustainable mission and identifying new opportunities, while creating an innovative strategy to drive the business into the future.
Prior to joining Pomelo, Athayu acted as global head of sustainability and corporate social responsibility at travel tech company Agoda.
“I’m thrilled to join Pomelo at such an exciting time,” Athayu said.
“Over the past two years of the pandemic, we’ve seen how our everyday habits can impact people and the planet for better or worse. It has become even more crucial for businesses to take a leap forward on making their sustainability efforts more holistic.”
Co-founder and chief executive David Jou said sustainability will be an important part of fashion moving forward, and bringing Athayu onboard will help the business to achieve its goals.