Under Armour CMO Exits Brand
The global head of marketing for Under Armour has exited the company, a spokeswoman confirms, in an executive shakeup following the brand’s dismal third-quarter earnings report on Tuesday.
Chief Marketing Officer Andrew Donkin joined the Baltimore-based sportswear brand 15 months ago from Amazon, where he served as head of worldwide mass and brand marketing for four years. Pam Catlett, senior VP and general manager of women’s and youth at Under Armour, has also left the company.
A spokeswoman said the company “mutually agreed to part ways” with the executives. “They will depart Under Armour later this month,” she said in an emailed statement.
The news comes a day after Under Armour, which spent $10.8 million on measured media in the U.S. last year, according to Kantar Media, reported its first quarterly revenue decline since it went public in 2005. Revenue declined 5 percent to $1.4 billion for the third quarter.
On a conference call with analysts, CEO Kevin Plank said, “I’d like to take a moment to acknowledge the disappointment that we feel about our financial performance in 2017.” Investors sent the brand’s stock price plummeting by more than 20 percent in Tuesday trading.
As the athleisure market grows more crowded, Under Armour has struggled in recent months to compete against a growing roster of brands.
News of Donkin’s departure was first reported by The Wall Street Journal.