Under Armor Board of directors names new lead independent director

Mohamed A. El-Erian has been appointed as the lead independent director of the Under Armor Board. He has served on the Board since 2018. His new role will be effective upon his reelection at Under Armour's annual meeting on May 27.

"As we work through our strategic transformation, the Board's selection of Mohamed to the lead independent director role is a testament to his extensive leadership abilities and our continued commitment to rigorous oversight and sound governance practices," the company's executive chairman and brand chief, Kevin Plank, said in a statement.

"In partnership with all Board members, this appointment further underscores our steadfast attention to returning Under Armour to growth and profitability for our shareholders over the long-term."

El-Erian will succeed A.B. Krongard, who has served as the Board's director since 2006.