Kevin Plank returning as Under Armour CEO leads to 12% stock drop.

From CNBC:

Under Armour’s founder, Kevin Plank, is set to return as CEO, causing shares of the company to plunge about 12%. CEO Stephanie Linnartz is stepping down after barely a year in the role. Analysts have downgraded the company, citing deteriorating performance indicators and accelerating risks. Sales slowed during the holiday quarter due to soft demand and industry pressures. Plank’s return signals a strategy shift, with uncertainty about key leadership changes raising concerns about domestic revenue growth rebound. GlobalData managing director Neil Saunders notes that the brand’s direction remains unclear amidst ongoing challenges.



Read more at CNBC: Wall Street isn’t happy Kevin Plank is returning as Under Armour CEO