Under Armour (NYSE: UAA) (NYSE: UA) recently announced that Kevin Plank, who founded the company in 1996 and served as its only CEO to date, would step down from the chief executive role. Plank will remain on board as UA's executive chairman and brand chief, and his successor, Patrik Frisk, will take over as CEO on Jan. 1.
UA's stock popped as investors cheered the move. The athletic footwear and apparel maker needed some fresh ideas to revive its ailing stock -- it's lost over 40% of its value over the past three years as the company struggled to keep pace with Nike (NYSE: NKE) and Adidas (OTC: ADDYY).
But is Frisk the ideal turnaround leader for Under Armour? Let's compare his past accomplishments with UA's current challenges to find out.