Under Armour's founder Plank to return as CEO
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FILE PHOTO: Founder and CEO of Under Armour Kevin Plank speaks during an IBM keynote address at the 2016 CES trade show in Las Vegas, Nevada, January 6, 2016. REUTERS/Steve Marcus/File Photo
(Reuters) - Apparel maker Under Armour said on Wednesday that founder vwill return to the company as CEO, effective April 1.
The company's shares rose 6% to $8.26 after the bell.
Plank founded Under Armour in 1996 and served as the company's top boss till 2019. In January 2020, Plank was appointed as the company's executive chair and brand chief.
Under Armour said Plank would succeed Stephanie Linnartz, who will step down as president, CEO and member of the board.
(Reporting by Arunima Kumar in Bengaluru; Editing by Alan Barona and Shounak Dasgupta)
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