By Yasin Ebrahim
Investing.com -- Under Armour said Wednesday Patrik Frisk would be stepping as chief executive on June 1.
Under Armour (NYSE:UA) fell more than 2% in afterhours trading following the news.
Chief operating officer Colin Browne will fill the role of president and CEO on an interim basis until a successor is appointed, the company said. Frisk will serve in an advisory capacity through Sept. 1 to support the transition.