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Under Armour names a new president

Under Armour announced on Tuesday a number of management changes which included naming a new president, the Baltimore Sun reported.

Patrik Frisk, former CEO of The Aldo Group, is set to take the roles of president and COO on July 10, while founder Kevin Plank will continue as CEO and chairman.

Plank said of the change: "Patrik's global experience in brand building, including a proven and disciplined record of driving growth, while enhancing profitability and efficiency, will be instrumental as we work to transform our business model to deliver long-term value for our consumers, customers and shareholder."

Frisk's experience includes 30 years "in the apparel, footwear and retail industry" with brands like The North Face and Timberland. Plank said the changes underscore their transition from "a great brand with good operations" to a "great brand with great operations."