Patrik Frisk

Patrik Frisk (born 1962/1963) is a Swedish/American businessman in the apparel industry.[3] Since January 2020 he has been the president and CEO of Under Armour, when he succeeded the company's founder, Kevin Plank.[2] He was previously president and chief operating officer of the company since 2017.[3][4] Frisk has worked for 30 years in retail and has had senior positions at The North Face and Timberland, before joining the Aldo Group in 2014 as CEO.[4][5]

Patrik Frisk
Born1962/1963 (age 57–58)[1]
Sweden
NationalitySwedish and American
OccupationBusinessman
TitleCEO, Under Armour[2]
TermJanuary 2020-
PredecessorKevin Plank
Board member ofUnder Armour

Early life

Frisk was born in Sweden.[6]

Career

Early career

Early in his career, Frisk was involved in several enterprises in Gällstad, Sweden, including the Swedish apparel company Ivanhoe.[7] He helped launch Lager 157, a Swedish chain of specialty retail clothing stores, in the early 2000s.[3][7] He subsequently held senior positions at the Swedish outdoor-apparel maker Peak Performance and at W. L. Gore and Associates, the maker of Gore-Tex fabrics.[3] Later Frisk joined the American apparel and footwear company VF Corporation.[3]

Afterwards as president of The Timberland Company,[3][7] he was "credited with revitalizing the Timberland brand" during his three-year tenure at the company.[3] In April 2014, Frisk was promoted to coalition president for Outdoor Americas, with responsibility for The North Face, Timberland, JanSport, Lucy Activewear, and Smartwool brands.[8]

Aldo Group

In 2014, Frisk became CEO of the footwear company and retailer Aldo Group.[3] Frisk restructured the company,[7] including streamlining its North American operations while expanding overseas, reassessing styles and brands, increasing sales to other chains,[9] establishing new systems and products, increasing research on customers,[10] digitizing the company,[9] and implementing Salesforce.com products to understand and communicate with customers.[11] Frisk's role was also to prepare the company for the founder's son, David Bensadoun, to take over.[7] Frisk left at the end of March 2017 to make way for Bensadoun as CEO.[3]

Under Armour

In 2017, Under Armour CEO Kevin Plank asked him to become president and chief operating officer; in doing so Plank relinquished his own status as president and also re-filled the COO position, which had not existed since 2015.[3] Frisk assumed the offices effective 2017, with responsibility for go-to-market strategy and execution of its long-term growth plan. The company reorganized so that the heads of revenue, product, marketing, supply chain, and strategy reported to Frisk, who in turn reported to Plank.[12]

Frisk was brought in after Under Armour's two decades of North American growth dipped in 2017, particularly from competition via Nike and Adidas and from changing consumer buying patterns.[3][13] He launched a multi-year restructuring plan to cut costs, reduce inventory levels, tighten operations, and stabilize business.[13][11] He began refocusing the company on being a "performance" brand.[11] In 2018, his total compensation at Under Armour was $6,285,000.[4]

In October 2019, Plank announced that Frisk would become Under Armour's CEO in January 2020, while Plank would become executive chairman and brand chief.[14] In addition to being Under Armour's president and CEO, Frisk joined the company's board of directors.[15] He continues to report to Plank.[14]

References
  1. "Patrik Frisk To Become Chief Executive Officer Of Under Armour On January 1, 2020". PRNewswire. October 22, 2019. Retrieved 2 January 2020.
  2. Singh, Prachi (2019-10-22). "Patrik Frisk to replace Kevin Plank as the new Under Armour CEO". fashionunited.uk. Retrieved 2020-01-28.
  3. Mirabella, Lorraine (June 27, 2017). "Under Armour brings in new president; Plank remains CEO". www.baltimoresun.com. The Baltimore Sun. Retrieved January 26, 2020.
  4. Weilheimer, Neil (October 22, 2019). "5 Things to Know About Kevin Plank's Successor, Patrik Frisk". Footwear News. Retrieved 2 January 2020.
  5. "Timberland's Frisk Leaves to Become Aldo Group CEO". BoF. October 24, 2014. Retrieved 2 January 2020.
  6. Myers, Joseph (June 29, 2017). "Can Under Armour's New President Revive the Slumping Apparel Seller?". promomarketing. Retrieved 2 January 2020.
  7. "From Gällstad to global brands". www.bt.se. Borås Tidning. March 7, 2017. Retrieved January 26, 2020.
  8. Rupp, Lindsey (October 23, 2014). "Timberland's Frisk Leaves to Become CEO of Aldo Group". www.bloomberg.com. Bloomberg. Retrieved January 26, 2020.
  9. Strauss, Marina (March 11, 2016). "Aldo's Reboot". www.theglobeandmail.com. The Globe and Mail. Retrieved January 31, 2020.
  10. Jones, Michael (May 31, 2016). "The Recession Mentality: 3 Ways Frugality Has Shaped Today's Consumer". www.forbes.com. Forbes. Retrieved January 31, 2020.
  11. Withers, Brian (November 16, 2017). "Can Kevin Plank's Hired Gun Help Get Under Armour Back on Track?". www.fool.com. The Motley Fool. Retrieved January 31, 2020.
  12. Mirabella, Lorraine (June 27, 2017). "Who is new Under Armour president Patrik Frisk?". www.courant.com. Hartford Courant. Retrieved January 31, 2020.
  13. Sun, Leo (October 24, 2019). "Can Under Armour's New CEO Bring Back the Bulls?". www.fool.com. The Motley Fool. Retrieved January 31, 2020.
  14. Wilen, Holden (October 22, 2019). "Patrik Frisk tapped to succeed Kevin Plank as CEO of Under Armour". www.bizjournals.com. Baltimore Business Journal. Retrieved January 26, 2020.
  15. Reed, Lillian (October 22, 2019). "Who is new Under Armour CEO Patrik Frisk?". www.baltimoresun.com. The Baltimore Sun. Retrieved January 26, 2020.
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