Henry Stafford departs Under Armour

Under Armour's executive team is in flux as chief merchant Henry Stafford has announced he will be stepping down in July. Stafford joined Under Armour in 2010 having previously worked as chief merchant of American Eagle. He rose through the ranks at Under Armour before serving as president of North America and rising to his current position in 2014.

“Henry has been an incredible partner and helped us build our brand and tell our story,” said Kevin Plank, Under Armour’s founder and chief executive officer, in a statement. “First through his leadership in apparel, then by heading up our North America business, and most recently by driving merchandising of our products throughout the world.”

Kip Fulks, Under Armour's chief marketing officer, will take up Stafford's duties on an interim basis.

Despite Stafford's departure, he appears to be leaving the company in good shape. The company's first net quarter income reportedly shot up 63.5 percent to 19.2 million dollars as sales increased 30.2 percent to 1.05 billion dollars. The company expects to hit revenues of 5 billion dollars this year.