A shakeup of Under Armour's executive structure announced yesterdaycould bode well for the long-term outlook of the company, according to one Wall Street analyst following the company.
The biggest change: Kevin Plank, who founded the company, will retain his CEO role but pass off the title of president to Patrik Frisk, who recently served as an executive for VF Corp. Frisk will also be COO.
The result is that six executives will be reporting to Plank instead of 10, which will "finally decentralize some decision making within the company," according to analysis by Susquehanna International Group's Sam Poser.
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