The founder of sporting goods manufacturer Under Armour, Kevin Plank, is returning to the top job after a four year hiatus.
The 51-year-old will take over as chief executive officer again on April 1, Under Armour announced on Wednesday. Plank moved to the top of the Board of Directors in autumn 2019.
There had previously been negative media reports about the corporate culture at Under Armour. The Wall Street Journal had reported that Plank and other managers had taken athletes and employees to strip clubs.
Under Armour, which Plank founded in 1996, has recently been struggling with declining sales. In the last quarter, revenue fell by 6% year-on-year to $1.5 billion. Profit fell from $121.6 million to $114 million.
The current CEO, Stephanie Linnartz, is leaving after just over a year. The former manager of the Marriott hotel group had developed a three-year plan to revitalize the brand with a focus on sports fashion for women and shoes, among other items.