Under Armour CEO Stephanie Linnartz Departs After Just One Year in Shocking Move

Abrupt Departure: Under Armour CEO Stephanie Linnartz Leaving After Just One Year

The sudden departure of CEO Stephanie Linnartz from Under Armour has shocked many in the corporate world. Linnartz, a highly respected executive who was previously the No. 2 at Marriott International, was tasked with leading the struggling sportswear company’s turnaround. However, she will be leaving the company after just one year in the role.

A Disappointing Surprise

Under Armour’s founder Kevin Plank, who still controls the company, has announced that he will be replacing Linnartz as CEO, effective from April 1. This will make Plank Under Armour’s fourth CEO in four years. Plank previously “stepped down” from the role in 2020 but has continued as executive chairman and still owns 65% of the company’s voting shares.

While Linnartz’s departure may come as a surprise, it was evident from early on in her tenure that Plank was not willing to relinquish control of the company he founded in 1996. Despite her impressive track record, Linnartz faced countless challenges, many of which were the result of Plank’s decisions. Under her leadership, Under Armour faced slowing growth, a falling share price, a declining brand reputation, and Plank’s controversial actions.

The Glass Ceiling

This unfortunate turn of events highlights the challenges faced by women in corporate America. Women make up barely 10% of Fortune 500 CEOs, and female CEOs already have shorter tenures than their male counterparts. When female executives choose to take on a CEO role in a company founded by a predecessor or founder, as Linnartz did, they often have to navigate a delicate balancing act between fixing issues and ensuring the founder remains satisfied. This phenomenon is often referred to as the “glass cliff,” a situation where female executives have to take riskier opportunities to move up the corporate ladder.

Linnartz’s departure from Under Armour adds to a growing trend and raises questions about the obstacles women still face to reach the top positions in corporate America. Leaders such as former Walgreens CEO Roz Brewer, current X CEO Linda Yaccarino, and potentially Linnartz have to accept riskier roles to have a shot at the top, while men in similar positions often face fewer challenges.

Read the full story about Linnartz’s departure from Under Armour here.

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Parting Wisdom

“The theme is being very comfortable in their own skin in a way that was absolutely not the case when they were younger. And there’s a sort of pride that’s in place that maybe was not quite there before.” – Julia Louis-Dreyfus describing her observations from her podcast series interviewing older women.