Source: Under Armour Announces Nomination of Jerri L. DeVard to Board of Directors (NYSE:UAA)
Ahead of the April 27th Conference Call for the 1Q 2017, Under Armour is ensuring that they are making some changes that inspire confidence in the direction of the company. The first quarter featured a very heated political issue for the brand and while that problem overshadowed most of the discussions on Under Armour, the brand is making sure to distance themselves from Plank’s missteps.
This nomination is important on many levels as it brings much needed diversity to the board of a prominent sportswear company. The Big Three (Nike, adidas and UA) combined have exactly 1 African-American woman on their board of directors. That one is Jerri L. DeVard. Nike does have an Asian American woman on the board in Dr. Phyllis Wise. It’s a bold move, and an important step in the right direction for Under Armour who came under fire for supposedly “aligning” with the policies of the Trump administration.
Will this move have any bearing on shareholders positions? It won’t hurt. This is not a face value move. DeVard to me appears to be a better fit for the brand than the recent move of bringing ex GM veteran Clay Dean in as Innovation Officer. Under Armour is in serious need of a marketing change up and Devard is a veteran in that arena. Solid move by UA. Here is information on Devard:
Ms. DeVard has more than 30 years of extensive marketing and leadership experience at large global brands. Most recently, she served as Chief Marketing Officer of The ADT Corporation, a leading provider of home and business security services. Prior to that, she was Principal of DeVard Marketing Group, a firm specializing in advertising, branding, communications, as well as traditional, digital, and multicultural marketing strategies. Ms. DeVard also served as Executive Vice President of Marketing for Nokia. Additionally, she held senior marketing roles at Verizon Communications, Citibank, Revlon, Harrah’s Entertainment, the NFL’s Minnesota Vikings and the Pillsbury Company. Ms. DeVard is a graduate of Spelman College, where she also recently served as a member of the Board of Trustees from 2005 to 2014. She received her MBA from the Atlanta University Graduate School of Business.