Under Armour’s chief revenue officer to retire

Under Armour, Inc. has announced that Karl-Heinz (Charlie) Maurath will retire as its chief revenue officer effective March 31, 2018. The company added that The four regional leaders and the head of global retail will report directly to Patrik Frisk upon Maurath's departure, while Paul Fipps, Chief Digital Officer will have oversight of the company's global ecommerce business.

"We express our heartfelt thanks to Charlie who has played a pivotal role in establishing Under Armour as one of the world's largest athletic brands," said Kevin Plank, Under Armour Chairman and CEO in a media release, adding, "Through proven and thoughtful leadership, Charlie's contributions to building our world-class sales organization have positioned our brand for sustainable, long-term growth. On behalf of the entire organization, we wish him the very best in his well-earned retirement."

Maurath joined Under Armour in September 2012 as president, international with responsibility for growing the company's business overseas. He was named chief revenue officer in November 2015, leading all global regions inclusive of North America, EMEA, Asia-Pacific and Latin America, as well as the global direct-to-consumer business. During his tenure, the company said, Under Armour successfully transitioned into a 5 billion dollars global brand with revenue outside of North America growing at a 50 percent CAGR and reaching 22 percent of total revenue.

"Under Charlie's direction, we have grown from an American company selling product in other countries to a successful international business of more than 1 billion dollars in revenue. With an incredibly strong foundation, we look forward to building on his great work as this team continues to grow our global footprint,” added Patrik Frisk, Under Armour President and Chief Operating Officer.

Picture:Under Armour website