American sportswear brand Under Armour has expanded its Board of Directors with the appointment of three new members: Dawn Fitzpatrick, Eugene Smith, and Robert Sweeney. Their diverse expertise spans finance, sports leadership, and investment.
Dawn Fitzpatrick brings extensive financial and operational acumen to the board. For the past eight years, she has served as the Chief Executive Officer and Chief Investment Officer, Soros Fund Management, a private investment firm. Prior to joining Soros, she was employed at UBS and its predecessor companies for nearly 25 years. Her most recent role was as the Head – Investments, UBS Asset Management. She also held leadership roles at UBS O'Connor, the firm's hedge fund business.
Currently, Fitzpatrick serves as Non-Executive Director, Barclays plc, and is involved in its Remuneration, Risk, and Sustainability Committees. Additionally, she contributes to the Federal Reserve Bank of Dallas Financial Sector Advisory Council as Chair, Advisory Council of The Bretton Woods Committee, and the Bloomberg New Economy Advisory Board.
Offering a deep understanding of intercollegiate sports management, Eugene Smith recently ended distinguished 19-year tenure as Senior Vice President and Athletic Director, Ohio State University (2005-2024). During his tenure at Ohio State, Smith co-chaired the NCAA's Federal-State Legislative Working Group on name, image, and likeness issues, chaired the 2011 NCAA Men's Basketball Committee, and served on the College Football Playoff Selection Committee.
His involvement with the NCAA also included participation in the Management Council, Committee on Infractions, Executive Committee, Football Rules Committee, and President's Commission Liaison Committee. Smith holds the distinction of being the first Black president of the National Association of Collegiate Directors of Athletics (NACDA) and is Former President- Division I-A Athletics Directors Association. He also served as Athletic Director, Arizona State, Iowa State, and Eastern Michigan universities.
Since 2019, Eugene Smith has been engaged as President, Sycamore Partners, a private equity firm focused on consumer, distribution, and retail-related investments. Before joining Sycamore, Sweeney spent 22 years at Goldman Sachs, ultimately as a Partner and Global Head - Consumer/Retail Investment Banking Group. Notably, he provided advisory support to Under Armour on various matters, including its initial public offering in 2005. Sweeney also served as an officer in the US Navy's Submarine Force from 1989 to 1995.
Mohamed El-Erian, Chair, Under Armour's Board, expressed enthusiasm for the new appointments, stating that their extensive financial and operational expertise, combined with Gene's deep knowledge of intercollegiate sports management, makes them exceptional additions to our board. Their unique talents, insights, and passion for the brand will be invaluable for navigating our next chapter" as the company pursues its growth strategy, he added.
This announcement follows Under Armour's recent upward revision of its annual profit forecast after exceeding quarterly results, driven by reduced discounting and a recovery in demand. In the quarter ending December 31, the brand’s revenue increased to $1.40 billion, surpassing analysts' expectations.
