Performance apparel and footwear maker Under Armour Inc is realigning its senior executive team, including the promotion of company veteran Kip Fulks as chief operating officer.

Fulks will replace Wayne Marino, who is retiring after nearly eight years with Under Armour. He will and will remain on the executive team, and transition his areas of responsibility over the next six months.

As COO, Fulks will continue to oversee the design and development of the company's products, and will add the sourcing and information technology areas to his responsibilities.

"Wayne has made significant contributions to the Under Armour brand and has been a true leader in the development of an operational platform to support a multi-billion dollar global business," said CEO and founder, Kevin Plank.

"I have asked Kip, a tested leader at our company with great instincts and proven results in managing growth in product and supply chain, to take on additional responsibility and further align our product and sourcing areas to take the brand and our business to the next level."

Fulks will lead the search for additional senior management personnel, beginning with the newly-created chief supply chain officer position. This role will oversee the sourcing, logistics, and distribution functions.

Under Armour also has established the role of chief performance officer, appointing board member Chip Adams to this new executive position. He will mainly be responsible for the development of company-wide business strategy.  

Other notable executive developments for the company include the promotion of Adam Peake to senior vice president of US sales.