Athletic apparel and gear maker Under Armour Inc. UAA, -0.41% named Mohamed El-Erian, the former co-chief executive of bond giant Pacific Investment Management Co., or PIMCO, to its board of directors. El-Erian is current the chief economic advisor at Allianz, which is the parent of PIMCO. "Mohamed's renowned international, macroeconomic and financial expertise are welcomed strengths as we lean even more deeply into our transformation, driving greater operational excellence, financial discipline and shareholder returns as we continue to drive our brand forward around the world," said Under Armour chief executive Kevin Plank. El-Erian was PIMCO co-CEO from 2007 to 2014. Under Armour's stock edged up 0.4% in premarket trade. It has gained 7% over the past 12 months, while rival Nike Inc. shares NKE, +0.79% have run up 32% and the Dow Jones Industrial Average DJIA, +0.26% has advanced 15%.
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