Why Under Armour Shares Are Moving After Hours

Under Armour Inc UA UAA shares are popping in Wednesday's after-hours session after the company appointed a new CEO.

What Happened: Under Armour said the president of Marriott International MAR Stephanie Linnartz will join the athletic apparel company as president, CEO and member of its board, effective Feb. 27.

"The board is confident that Stephanie – along with our leadership team and all of our key stakeholders – will accelerate our ability to realize the substantial opportunities for Under Armour as both an operating company and aspirational brand," said Kevin Plank, Under Armour's executive chair and brand chief.

Colin Browne, who has served as interim president and CEO since June, will return to his previous position as COO. 

Under Armour is an inventor, marketer, and distributor of branded athletic performance apparel, footwear and accessories.

See Also: After-Hours Alert: What's Going On With Micron Stock?

UA Price Action: Under Armour has a 52-week high of $18.65 and a 52-week low of $5.74.

Under Armour shares are up 2.26% in after-hours at $8.83 at the time of writing, according to Benzinga Pro.

Photo: Mike Mozart from Flickr.