Under Armour reveals new digital product lead, CFO amid shakeup
Under Armour announced more changes to its digital business on Monday including a new digital product lead, as well as a new chief financial officer as part of on-going restructuring efforts.
The athletic apparel company named Michael La Guardia as Senior Vice President, Digital Product, replacing Mike Lee and Albert Lee, the co-founders of MyFitnessPal, which the company acquired in 2015.
As of January 8, La Guardia, a former Yahoo executive, will lead the strategy for all digital product development at Under Armour.
"As part of the restructuring we initiated this summer that integrates technology across our core business—connected fitness digital product, digital engineering and digital media— will now all report directly to me,” explained Under Armour Chief Technology Officer Paul Fipps, in a news statement. “This integration significantly enhances our ability to engage consumers with elevated experiences, premium products and personalized services."
On Monday, Under Armour also announced that David Bergman has been named Chief Financial Officer. Bergman had been interim chief financial officer since February.
Bergman joined Under Armour in 2004 and has held several senior management roles within the company's finance and accounting organization.
"As our management team works to aggressively evolve our strategy and improve our level of execution, I, along with our Board of Directors, am confident that Dave's experience will help drive greater operational excellence in every area of our business and create a long-term financial model capable of providing more consistent, sustainable value and return to our shareholders," said Under Armour Chairman and CEO Kevin Plank.
The Baltimore, Maryland-based company, which boomed in recent years, has been hit by the retail crisis currently effecting the US.
In its latest quarter, Under Armour saw revenue fall by 4.5 percent to $1.4 billion, its first quarterly sales decline since the company went public. The company also slashed its 2017 forecasts, while profit fell 58 percent to $54.2 million.
This summer, when layoffs and a restructuring was first announced, the company made several executive changes including the appointment of Patrik Frisk to President and Chief Operating Officer.
In addition, Paul Fipps was named Chief Technology Officer and Colin Browne was named Chief Supply Chain Officer, in an effort to leverage its digital business.
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