Under Armour reorganises international executive team
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Athletic apparel retailer Under Armour has announced new executive appointments for their international markets as it expresses plans to make its international sales grow even more.
The company’s international sales have been growing fast and make up 24 per cent of its total revenue. In the first quarter, the sportswear retailer’s total sales were $1.19 billion.
Under Armour has announced the appointments of Jason Archer as managing director for Asia Pacific; Manuel Ovalle as managing director for Latin America; and Massimo Baratto as managing director for Europe, Middle East & Africa.
The company also announced that its Hong Kong office will be expanded to serve as its Asia Pacific headquarters.
“As we work to scale our international business, we remain focused and measured in our evolution across our entire portfolio to ensure that we are driving toward long-term return for our shareholders,” said Patrik Frisk, Under Armour president and chief operating officer.
Archer, who has been with Under Armour for six years, became vice president and managing director in 2016 with primary oversight of the company’s Latin American business. Before joining Under Armour he spent 11 years with adidas in Latin America and six years with PwC on assignments in Canada and Europe.
Ovalle, who joined Under Armour in 2013, will now be based in Panama and be responsible for the company’s entire Latin America business from Mexico through the Southern Cone. Prior to Under Armour, Ovalle spent nearly 20 years with adidas with roles of increasing responsibility as the company grew its Latin American business.
Baratto, who joined Under Armour in May, will now oversee the entire Europe, Middle East and Africa region. He brings nearly 30 years of international experience from a variety of industries, brands and regions – most recently as the CEO of the Oberalp Group.
Erick Haskell, who joined Under Armour in 2015 as managing director for Greater China has announced plans to leave the company later this month to pursue a new opportunity.
“We are grateful for Erick’s leadership and the strong foundation he set over the past few years, which has positioned us for strong, balanced growth as we enter our next chapter in this important region,” Frisk said.
All regional leads report directly to Frisk.
Questions & Answers
Q.What is the primary motivation behind Under Armour's international executive team reorganisation?
What is the primary motivation behind Under Armour's international executive team reorganisation?
The company states its plans are to make its international sales grow even more. International sales have been rapidly increasing and currently represent nearly a quarter of its total revenue, so the goal is further expansion.
Q.Which regions are gaining new managing directors as part of this reorganisation?
Which regions are gaining new managing directors as part of this reorganisation?
Under Armour has appointed new managing directors for Asia Pacific, Latin America, and Europe, Middle East & Africa. These appointments are part of the company's strategy to scale its international business operations.
Q.What significant change is occurring with Under Armour's Hong Kong operations?
What significant change is occurring with Under Armour's Hong Kong operations?
The company is expanding its Hong Kong office to establish it as the new Asia Pacific headquarters. This move supports the broader strategy for growth in the international market, particularly within that region.
Q.Which executive is leaving Under Armour, and what was their role?
Which executive is leaving Under Armour, and what was their role?
Erick Haskell, who joined Under Armour in 2015, is leaving the company later this month. He served as the managing director for Greater China, and is departing to pursue a new opportunity.
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