Under Armour Inc. Chief Operating Officer Brad Dickerson will step down from the athletic-apparel maker next year, leaving founder Kevin Plank without an executive who helped fuel the company’s rapid growth.
Dickerson, who also serves as chief financial officer, will stay on until February, the Baltimore-based company said Tuesday in a statement. The company will conduct an external search for a new CFO, and Dickerson’s operational duties will be distributed among the current leadership team as well as to the new finance chief.
Dickerson started with Under Armour in 2004, before its initial public offering, and has helped lead it during more than a decade of expansion. Driven by sales of its moisture-wicking clothing and a constant push into new markets, such as shoes, the company generated $3.08 billion in revenue last year, more than 10 times its sales from the year Dickerson joined.
While Under Armour didn’t disclose Dickerson’s new position, he said it is outside of the athletic-apparel industry and will use his expertise in helping an early-stage company accelerate its growth. Dickerson became Under Armour’s CFO in 2008 and added the COO title earlier this year.
Under Armour fell 2.3 percent to $101.01 at 9:33 a.m. in New York. The shares had risen 52 percent this year through Monday.