Under Armour Inc (NYSE: NYSE:UAA) announced Monday that Tchernavia Rocker, the company's Chief People and Administrative Officer, will be leaving her post effective June 1, 2024. Rocker has been with the Baltimore-based sports apparel company since February 2019, initially joining as Chief People and Culture Officer before taking on her current role in June 2020.
Rocker's departure is due to personal reasons, as stated in the company's recent SEC filing. During her tenure, she has been credited with significant contributions to Under Armour (NYSE:UA)'s culture, focusing on inclusion, diversity, and development of the company's team. Under her leadership, the company has been recognized as one of the most trustworthy companies in America.
Kevin Plank, President and CEO of Under Armour, expressed gratitude for Rocker's dedication and impact. "She has been an incredible leader for this brand and thought partner across our executive leadership," said Plank. He also noted Rocker's pivotal role in fostering the core values that have shaped the company's environment.
Her successor has not been announced, and the company has not provided further details on the transition plan.
Rocker's exit marks the end of a five-year chapter with Under Armour, during which she played a key role in the company's executive team. As Under Armour prepares for this change in leadership, the focus remains on maintaining the momentum in its efforts towards a strong company culture and continued growth.
The article is based on an 8K filing.
InvestingPro Insights
As Under Armour Inc (NYSE: UAA) navigates a leadership transition with the imminent departure of Tchernavia Rocker, the company's financial health remains a point of interest for investors. According to InvestingPro data, Under Armour's market capitalization stands at $2.71 billion, reflecting its position in the market. The company's P/E ratio, a measure of its current share price relative to its per-share earnings, is 7.18, with an adjusted figure of 6.92 based on the last twelve months as of Q3 2024. This suggests that the stock is trading at a low earnings multiple, which can indicate that it is undervalued relative to its earnings.
Moreover, Under Armour's stock price has been quite volatile, and it is currently trading near its 52-week low, which could be an opportunity for investors looking for potential bargains in the market. An InvestingPro Tip notes that the Relative Strength Index (RSI) suggests the stock is in oversold territory, which might appeal to those who follow technical analysis in their investment decisions. Additionally, the company has been profitable over the last twelve months, with a gross profit margin of 45.73%.
It's important for investors to consider these financial metrics and InvestingPro Tips in the context of the company's executive changes. For those looking for more insights, there are additional tips available on InvestingPro, which could further guide investment decisions. Use coupon code PRONEWS24 for an additional 10% off a yearly or biyearly Pro and Pro+ subscription, and discover the full range of expert analysis and tips.
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