The former chief financial officer for PetSmart, Chip Molloy, is joining the Baltimore-based Under Armour team. On Wednesday, Under Armour announced that Molloy will replace the company’s current CFO Brad Dickerson, who is stepping down from his post in next month.
Molloy will begin with Under Armour Jan. 19, 2016. Dickerson will remain with the company in an advisory capacity through February to help ensure a smooth transition. David Bergman, Under Armour vice president of finance and corporate controller, will also play a key role in the transition.
Molloy, a Maryland native, brings with him significant financial executive experience in the consumer retail sector. He served as EVP and CFO for PetSmart from 2007 until 2013, where in 2011 he was named Institutional Investor’s CFO of the Year for Specialty Retail. Most recently he served as a Senior Advisor for Atlanta-based private equity firm Roark Capital Group since October 2014 and has served on a number of public company boards of directors.
In a release, Under Armour Chairman and CEO Kevin Plank said, “Under Armour is a growth company with a dynamic senior leadership team, and we are excited for Chip Molloy to help drive the business on the road to $7.5 billion in revenue by 2018.”