Patrik Frisk to lead Under Armour as new president

June 27 (UPI) -- Apparel maker Under Armour Inc. announced Tuesday CEO Kevin Plank will step back from his role as president, ceding the position to Patrik Frisk, who also will serve as chief operating officer.

The company also revealed other management changes to align the Baltimore-based company's "organizational structure to better leverage its digital business, support its move toward category management, and drive greater operational efficiency across the organization," a statement Tuesday said.

Frisk will take over day-to-day management of the company on July 10 and will report to Plank, who remains chairman and CEO.

Frisk has nearly 30 years of experience in the apparel and retail industry. He was formerly CEO of ALDO Group, a Canadian apparel and footwear retailer, and previously spent 10 years with VF Corp., manufacturers of The North Face, Timberland and JanSport brands.