Under Armour chief revenue officer to retire
Baltimore-based sportswear brand Under Armour announced on Wednesday that Chief Revenue Officer Karl-Heinz (Charlie) Maurath will be retiring after over five years with the company during which led he Under Armour's development into a successful international brand.
Maurath joined the company as president, international in September 2012, charged with leading the American company’s growth overseas. In November 2015, he was appointed chief revenue officer with responsibility for all of the company’s global regions, as well as its international direct-to-consumer business.
During his time at Under Armour, the company became a $5 billion global brand with international revenues accounting for 22% of its total income.
“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 in revenue,” stated Patrik Frisk, Under Armour president and chief operating officer, in a release. “With an incredibly strong foundation, we look forward to building on his great work as this team continues to grow our global footprint, delivering the Under Armour experience to athletes around the world.”
Under Armour Chairman and CEO Kevin Plank commented, “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,” 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.”
Before joining Under Armour, Maurath spent 22 years at Adidas where he served in a number of different leadership roles, including SVP, Adidas Group Latin America and VP, Adidas Nordic.
Upon Maurath’s departure, Under Armour’s head of global retail and four regional leaders will report directly to Frisk. Chief Digital Officer Paul Fipps will oversee the brand’s e-commerce business.
Maurath will retire effective March 31, 2018.
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