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Under Armour Falls as Management Departures Stoke Growth Concern

Under Armour Inc. fell the most in almost three months after announcing the departures of two top executives, raising concern that the athletic-gear maker is losing management talent in key growth areas.

Chief Merchandising Officer Henry Stafford and Chief Digital Officer Robin Thurston will step down in July, the Baltimore-based company said Tuesday in a statement. Michael Lee, co-founder of the MyFitnessPal app, which Under Armour acquired last year, will take over the digital operations. Kip Fulks will lead merchandising on an interim basis.