His most recent gift will go toward expanding the CollegeBound Foundations programs to benefit more students in Baltimore and throughout the country. "It's unfortunate that any positive commentary in today's political climate is perceived as 'all or nothing' in support for or against any particular individual and his/her politics," Moser said. [53] Plank donated $1 million to the Archdiocese of Baltimore in 2016 to help 100 more children go to Catholic school. [49], Plank has been a long-time supporter of the University of Maryland's Robert H. Smith School of Business and Dingman Center for Entrepreneurship. [12], His roommate at Maryland was football player and professional wrestler Darren Drozdov. Cupid's Valentine earned $3,000, which Plank used as seed money for Under Armour. The fallout was swift: [14], The idea that led to Under Armour was sparked while playing for the Maryland Terrapins; Plank said he was the "sweatiest guy on the football field". Actor Kevin Costner said he was OK with losing fans over his political views, saying he didnt really care how the cookie crumbles when he backed Rep. Liz Cheney (R-Wyo.) Larry Hogan and Baltimore Mayor Stephanie Rawlings-Blake on Wednesday. At the time, Under Armour told The Post that its false to report that Kevin Plank used corporate dollars at strip clubs, and added that Plank didnt conduct business at strip clubs or use company funds at such venues.. [23] A few years later, some of these acquisitions would be divested by the next CEO. Mayor Scott will celebrate the rebranding at a Plank-sponsored party tonight. I am stepping down from the council to focus on inspiring & uniting through power of sport. Under Armour CEO Kevin Plank is leaving President Donald Trumps American Manufacturing Council, his company announced Monday. We have teammates from different religions, races, nationalities, genders and sexual orientations; different ages, life experiences and opinions. Politics is infernally tricky and. Within two years, Under Armour relocated its headquarters to Baltimore, and both company founder Kevin Plank and Baltimore Mayor Catherine ODonnell have since become synonymous with the city. Plank continued to pile on the praise of Trump's abilities saying, "I'm a big fan of people that operate in the world of 'publish and iterate' versus 'think, think, think, think, think', so there's a lot that I respect there.". Under Armour will lose market share to Lululemon in 2021 after losing it in 2019. [42] Following Plank's renovation, the building reopened as the Sagamore Pendry Hotel. Given the nation's divisions, it's risky for heads of companies to even appear to take sides in political or policy-related matters, marketing experts say. "Just because I might not agree with your side of the story, if you have a good product I'm going to keep buying it. He is a male registered to vote in St Clair County, Michigan. In the week since Plank praisedthe president,three of Under Armour's biggest celebrity endorsers have publicly criticized his comments; Plank took out a full page ad in theBaltimore Sunto reiterateUnder Armour's values; and on Wednesday, Under Armour found itself the subject of a stock downgradethat cited Plank's statements among the top negative drivers for the company. There is no definitive answer to this question as Kevin Plank has never openly stated his political affiliation. Political parties began with the Federalists and Anti-Federalists in the debates leading up to the ratification of the Constitution of the United States. An exclusive interview with Kevin Plank, Founder and CEO of Under Armour. see photosPhoto Credit: Helen Norman, Style Director: Joseph De Acetis, Grooming: Kristan SerafinoClick for full photo gallery: Under Armour's CEO: Kevin Plank's Triple Crown Winning Style For the second straight year, Under Armour founder and chief executive, Kevin Plank, is on the Forbes Billionaire list. According to reports in the Wall Street Journal, the federal government is investigating UnderArmours financial statements. All rights reserved. is a source of strength, diversity and innovation for global companies To revisit this article, select My Account, thenView saved stories, At a time when even a perceived relationship with Donald Trump can swiftly become a PR nightmare for a brand, Under Armour's CEO Kevin Plank has decided to endorse the President outright. Plank had said in an interview on CNBC that Trump was "an asset to the country." 4. "But Under Armour also saw support on social media.Jeff Kennedy, a small business owner from Georgia, felt compelled to respond to the barrage of comments berating Plank, tweeting his appreciation of Plank's support of pro-business policies and vowing to buy more Under Armour stock and clothing.Kennedy said he wanted to stand up for those business owners who are afraid to speak up and risk losing business. Under Armour Unveils Game-Changing SlipSpeed With Collapsible Heel, Did Under Armour Fudge Its Numbers? "Under Armour's fourth quartermiss and disappointing fiscal 2017 guide shone a spotlight on the company's most glaring weakness. He will be succeeded by chief operating officer Patrik Frisk, who joined Under Armour in July 2017 from his position as CEO of footwear and accessories company Aldo Group. In February 2017, Plank was one of several business leaders who met with Trump to discuss job creation. A total of $24 million has been raised by the foundation since it was founded in 2011. He will join the board, while Plank transitions to executive chairman and brand chief. Plank is the man in charge of Under Armour and can choose to say whatever he wants, regardless if his views align with those of each and every one of his employees. Is Kevin Plank married? We have engaged with both the prior and the current administrations in advocating on business issues that we believe are in the best interests of our consumers, teammates, and shareholders. Could Plank simply trying to curry favor with President Trump, in hopes he can help pass laws that could make their brand more profitableor at least give them a shout out on Twitter? In North America, sales were $940 million, a slight decrease from the previous year. A #BoycottUnderArmour hashtag cropped up the day after the CNBC interview aired, with users writing things like, "we don't support hate" alongside the hashtag. Plank served on Trump's manufacturing council but resigned in August 2017 after the president did not criticize neo-Nazi protestors in Charlottesville, Virginia. Plank, who stepped down as Under Armour's CEO in 2019 and is now chairman, took the company public 2005; he owns a nearly 16% stake. "It goes back to freedom of speech," he said. Company CEOs are making calculated decisions about the risk of appearing to side for or against the president in a polarized political climate. It was bad for business. [57] In the days following the remarks, Plank bought a full-page advertisement in The Baltimore Sun to clarify his comments. Some of Under Armours biggest stars publicly broke with the guy who writes their endorsement checks. ," he wrote at the time. Thecompany has posted 23 quarters . In comparison to a year ago, international revenue fell 3% to $ 431 million. Through our investment, hiring and in everything we do, we expect to be leaders in the advancement of all forms of diversity and gender.. ", Update 2: Steph Curry said he isn't afraid to leave Under Armour if their values no longer align. He started his business there and still runs it in Maryland today. According to a memo from CEO Patrik Frisk, the Maryland-based sportswear retailer plans to lay off 600 people. He took out a full-page ad in Under Armours hometown newspaper on Feb. 15, hoping to clear up his stance on Trump and immigration. He lived in Lutherville as a resident of Georgetown before moving to Washington, DC. Under Armours founder and CEO, Kevin Plank, has been a successful philanthropist as well as an investor. He started Under Armour while still in college. Using a mix of his own cash, credit cards, and a Small Business Administration loan, he launched the business. Adidas We've received your submission. His father was a land developer in Virginia, and his mother, the once mayor of Kensington, worked for the Department of State during the administration of President . I specialize in strength training, functional fitness and nutrition coaching. In the mid 1990s he sold his first shirts from his grandmother's basement, exaggerating to early customers to make the company sound bigger. Plank likened Under Armour's future success to Tom Brady's improbable Super Bowl comeback. 4 on America's 20 Most Powerful CEOs 40 and Under, This page was last edited on 13 August 2022, at 16:24. All Rights Reserved. Kevin Plank is an entrepreneur and businessman best known for founding Under Armour, a sports apparel brand. Planks praise of Trump didnt play well at home. He took the stock from positive to neutral and slashed its price target from $40 to $24 following disappointing fourth quarter earnings results. Call 1-800-GAMBLER. In an interview with CNBC in April 2017, Plank praised Trumps pro-business agenda, saying that the president was a real asset to the country. With de facto stock split, Under Armour ensures founder Kevin Plank will keep his grip on the apparel company. "Under Armour even faced a reaction from one of its top athletes after the Plank comments.NBA star Stephen Curry of the Golden State Warriors told The Mercury News of San Jose, Calif., on Wednesday that he spent Tuesday evening on the phone talking to Under Armour and eventually Plank himself "trying to understand what was going on and where everybody stood on the issue. However, based on his public statements and actions, it is generally believed that he is a Republican. News anchor Stephanie Ruhle isn't the only MSNBC personality with cozy ties to Under Armour CEO Kevin Plank, The Post has learned. Under Armour announced a turnaround plan in December that will improve womens offerings while also focusing on the wants of the consumer. Remember, Plank recently joined a council alongside Tesla's Elon Musk and others to work with Trump on increasing manufacturing jobs in the United States. In August, Costner wore a pro-Cheney shirt that the Republican lawmaker shared in an Instagram post, saying the Hollywood star was putting country over party.. He came out against Trumps travel ban, vowing to join a coalition of companies to oppose such policies. [38][39], Plank also founded the whiskey distillery Sagamore Spirit in 2013. [3][6] He left the prestigious Georgetown Preparatory School, a Catholic school, due to poor academic performance and behavioral issues,[7][8] then went on to graduate from another Catholic school, St. John's College High School, in 1990. Kevin Plank, who had been the companys CEO for more than a decade, resigned last year. In an interview on CNBC, he praised the president as pro-business and a real asset for the nation just as debate raged over an executive order to halt the U.S. admission of people from Muslim-majority countries. Plank is a former football player at the University of Maryland. On Tuesday, Scott Paul, the president of the Alliance for American Manufacturing, said he was stepping down, because it was the right thing for me to do.. 2023 NYP Holdings, Inc. 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On September 23, 2020, it was announced that Kevin Plank would step down as CEO of Under Armour, effective January 1, 2021. We believe in advocating for fair trade, an inclusive immigration policy that welcomes the best and the brightest and those seeking opportunity in the great tradition of our country, and tax reform that drives hiring to help create new jobs globally, across America and in Baltimore. Follow this author to stay notified about their latest stories. [2], Plank married Desiree Guerzon, in 2003. As of January 1, 2020, current COO Patrik Frisk will become CEO. Patrik is the right person to serve as Under Armours next CEO, said Plank. [44] The next year, his charitable arm funded 40 summer jobs for Cherry Hill, Baltimore, public school students in the maritime transport industry. "Under Armour framed its involvement with Trump as focused on the manufacturing initiative, which complements its effort launched in Baltimore last year to test technologies for local production. According to the companys statement Friday, it expects revenue to grow between 5% and 7% in the fiscal year that ends in March. Reflects change since 5 pm ET of prior trading day. In the note, hedowngraded Under Armour from "neutral" to "negative" and took its price target from $24 per share to $14 per share. Trump resorted to Twitter to slam CEOs who bailed on his American Manufacturing Council in the wake of the Republicans initial reluctance to condemn white supremacist violence in Charlottesville, Va. Just as happened with retailers who dropped Ivanka Trumps products, angry Trump supporters responded to Planks decision by calling for a boycott. He joined CEOs from companies such as Dow Chemical, Dell, Ford, GE and Tesla, among others to begin an important dialogue around creating jobs in America. JOBS! "But Mr. Plank has a company to run, and it sounds like that's what he's doing so I'd encourage investors to focus more on the fundamentals of the business and less on short-lived events such as these. Hillary Clinton won 60 percent of the vote statewide, and she trounced Trump in Baltimore County and City. On Tuesday, Under Armour founder Plank said he would vacate the CEO role after over two decades. Plank admitted it himself in January, saying his brand needs to become more fashion. One such effort is Under Armours new UAS line, a high-end take on sportswear touted by runway shows and celebrities. [24], As CEO, Plank oversaw a company that generated US$5 billion in annual revenue and employed about 15,800 people as of December 31, 2017. Under Armour moved quickly Wednesday to contain a social media backlash to comments by its founder and CEO Kevin Plank praising President Donald J. Trump's pro-business philosophy. Shoe sales are suddenly headed in the wrong direction after years of growth, as the company reported a 2 percent decline in footwear sales to $237 million last quarter, compared with a 58 percent increase in the same period the year prior. [19] The ad resulted in $1 million in direct sales for the following year, and athletes and teams began buying the product. Despite Trumps Twitter tirade against Merck, the companys stock finished Monday slightly more valuable than it started it. Bush wishes Plank well in this letter, praising his leadership skills and stating that he should step aside when they are appropriate. [37] The company had acquired approximately 235 acres in the area[36] and planned to build a mix of offices, residential areas, retail space, parks, boat launches and more. [59] Additionally, he publicly opposed President Trump's decision to withdraw from the Paris Accord[60] and was among the Fortune 500 CEOs to sign a pledge to promote workplace diversity and inclusion. The competition got its name from his Cupid's Valentine rose business he began while attending the University. Where could Tom Brady land next, and does anybody want him? 26 on Power 100 Most Influential Designers, Influencers and Leaders in the Shoe Industry by, No. Kevin Plank, a billionaire and philanthropist, is the founder and former CEO of Under Armour, one of the largest sportswear companies in the world. [5], A turning point for him came late in 1999, when Plank used nearly all of Under Armour's money, and employees agreed to go without pay for a few weeks, so the company could take out a $25,000 advertisement in ESPN The Magazine. At Under Armour, our culture has always been about optimism, teamwork, and unity. Under Armour CEO Kevin Plank is a close friend of MSNBC anchor Stephanie Ruhle. [5] Plank tried several prototypes before deciding on the one he wanted to use. Just hours before the Idaho slayings, another grisly scene unfolded outside Bryan Kohberger's window, Polar bear kills woman, boy in remote Alaska village, Hawaii fisherman overboard, missing after hooking large ahi, Reality TV star Julie Chrisley reassigned from Florida prison to federal medical center, The rich and powerful flocked to Davos via private jet to discuss climate change, study finds, Sunny skies, cool temps expected for most of SoCal on Wednesday, North Atlantic right whale is "likely to die" after becoming entangled, NOAA says. We are against a travel ban and believe that immigration All hail the greatest regular season Pro Bowl quarterback in the NFL. BALTIMORE Under Armour Founder Kevin Plank will step down as CEO in the new year to become the company's executive chairman and brand chief. There appears to be some confusion about what the answer is. Shai Gilgeous-Alexander, Lauri Markkanen, DeAaron Fox, Tyrese Haliburton and Anthony Edwards are all likely to make their first NBA All-Star game appearance, so lets rank them. (Paramount) Under Armour is a national business, and how the CEOs political views gel with his home states arent everything on their own. "So there's a lot that I respect there.". Lets rank the NFL teams still standing in the divisional round. While Poser doesn't believe that Under Armour is in danger of losing Curry as a brand ambassador, he cites Curry's "pointed" comments as a troubling sign for the company. Early Days Plank was born on August 13, 1972, and raised in Kensington, Maryland, where his mother served as mayor and father as a property developer. Most concerning of all to the company is the slowdown in sneakes. By taking a stance either way, you run the risk of alienating a major segment of your customers. "Plank was out of town and unavailable to be interviewed on Wednesday, the company said.Immigration has been a hot-button topic since Trump's executive order to suspend refugee admissions and temporarily bar visitors from seven mostly Muslim countries. Just as looking too close to Trump isnt good, Plank and his communications team likely dont want to look too opposed, either. As of October 2021, his net worth was estimated at US$1.8 billion. . He is building a 4 million-square-foot headquarters for Under. Kevin Plankcaused a stir three years ago when he spoke positively of Donald Trumpa couple of weeks after the president had been inaugurated. The versatile training shoe, which is also equipped with the BOA Fit System, was developed to give athletes, particularly high school and college athletes, one less thing to worry about during their busy day-to-day lives. [25][26], Plank announced his departure as CEO in October 2019, and was succeeded on January 1, 2020, by Under Armour COO Patrik Frisk. The modern Democratic Party is based on the Democratic Republicans, while the modern Republican Party has grown since 1854. Shortly after the president took office, Plank joined his White House Manufacturing Jobs Initiative in an advisory role. [33][32] On November 5, 2010, Sagamore Farms' Shared Account won the $2 million Breeders' Cup Filly & Mare Turf (GI). You may opt-out by. We believe it is important for Under Armour to be a part of that discussion. Employees at the athletic apparel giant were uncomfortable with their relationship, according to the report, and were unsure how to handle her feedback because many believed she had romantic ties with Plank. Terms at draftkings.com/sportsbook. Plank, who started Under Armour in 1996 in his. Now that Ken Frazier of Merck Pharma has resigned from President's Manufacturing Council,he will have more time to LOWER RIPOFF DRUG PRICES! [54], According to the Federal Election Commission, Plank has donated to both major U.S. political parties and to individuals of both parties. 1.8 billion USD (2021) Under Armour chief executive Kevin Plank who got rocked last year by reports that he had presided over a frat-house culture at the athletic wear giant will step down from the role next year. Political parties began with the . The company first introduced a smart shoe with a built-in sensor in 2016 that stores and tracks data. To learn more or opt-out, read our Cookie Policy. To revisit this article, visit My Profile, thenView saved stories. "jebarker@baltsun.comtwitter.com/sunjeffbarkerlorraine.mirabella@baltsun.com, Under Armour said in the 280-word statement, Do Not Sell/Share My Personal Information. [40], Plank renovated the former Recreation Pier building in Fells Point, Baltimore. Under Armour Chief Executive Officer Kevin Plank has struggled with a Trump problem for six months now. "Regardless of Plank's political views or whether his comment was meant to be a Trump endorsement or a general opinion, we believe the decision to express a view in today's highly charged political climate was a mistake," Poser said. According to Susquehanna Financial Group analyst Sam Poser, Plank's commentary didn't just breach conventional wisdom staying mum on matters of politics and religion. "We stand firmly for equal rights," Plank wrote. In a statement, Plank said, After twenty-four incredible years, I have decided that now is the right time to transition Under Armours leadership to a new generation.. "Immediately after the interview aired, tweets with #boycottUnderArmour started to appear, citing Plank's comments. Kevin Audette Plank (born August 13, 1972) is an American billionaire businessman and philanthropist. Personal beliefs and opinions. Also in February, The Post reported that Plank is also tight with former MSNBC political analyst Steve Schmidt who worked for Plank as a consultant until last year. and Plank's comments may or may not be viewed in a positive light by existing Under Armour customers.". "When they realized there was some backlash and that's not hard to do with social media, it appears quickly, they were quick to come out with a response," Bell said. [9][10] He was not recruited by the top-tier collegiate football programs. Im committed to making sure every client I work with gets the best results possible. Under Armour announced today that Kevin Plank, who founded the company in 1996, is stepping down from his CEO role in January and will remain as . (Photo by Chip Somodevilla/Getty Images). From award-winning writing and photography to binge-ready videos to electric live events, GQ meets millions of modern men where they live, creating the moments that create conversations. Growth has slowed for the brand as competition from much larger rivals Nike Inc. and Adidas AG mounts. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Cond Nast. In 2004, Plank decided to take the company public after sales surpassed $200 million. Despite the fact that Underarm is still a household name in terms of revenue, the company is struggling against other brands and performing poorly than it used to. On some visits, employees charged hundreds of dollars there to the company, the paper reported, citing unnamed sources. Powered and implemented by Interactive Data Managed Solutions. All Rights Reserved. Air freight was also used to bring goods from abroad to Under Armour. Run by designer Tim Coppens, formerly of Ralph Lauren and Adidas, looks range from tailored sportcoats to uniquely quilted vests. Ever since he expressed support for the new president, hes faced pressure from consumers and his own endorsers to revisit his position. In February, Plank appeared on CNBC and said Trump would be a real asset to the United States and hailed him for being friendly to business: "He wants to build things. The backlash was immediate, and not just from outraged shoppers. Kevin Plank, the CEO of Under Armour, will step down but continue to serve as the brands executive chairman and CEO. [37], Plank Industries also bought and revamped the water taxi in Inner Harbor. [30] The property was once owned by Alfred Gwynne Vanderbilt. "You know, I think a lot of people bet against Tom Brady the other night, too," he said. When asked if he agrees with Plank's assessment that Trump is an "asset to the country," Curry responded, "I agree with that description, if you remove the et.". FORTUNE may receive compensation for some links to products and services on this website. "Sadia Khan, a nurse and graduate student from New Haven, Conn., registered her opposition on social media. Plank took out a full-page open letter in the Baltimore Sun, where he backed off some of his Trump praise, which he said "did not accurately reflect my intent." He expressed opposition to Trump's. In November 2016, after Trump was elected president, several Under Armour athletes, including Steph Curry and Misty Copeland, publicly criticized Plank for his support of Trump. . "I'm a big fan of people that operate in the world of 'publish and iterate' versus 'think, think, think, think, think,'" Plank said. Earlier, L.L. [13], While at University of Maryland, Plank launched Cupid's Valentine, a seasonal business selling roses on Valentine's Day. Under Armor saved a reported $50 million after it backed out of its agreement with MLB to supply uniforms in January 2019. Put simply, Under Armour has been unable to establish itself as a cool street brand. Noticing his football teammates' sweat-soaked shirts, Plank came up with a lightweight, sweat-wicking shirt using fabrics from women's undergarments. We have always been committed to developing innovative ways to support and invest in American jobs and manufacturing. "Commentary by CEO Kevin Plank in a polarized political climate and the pointed response by Stephen Curry make it nearly impossible to effectively build a cool urban lifestyle brand in the foreseeable future," Poser wrote in a research note Wednesday. The brand's lifestyle attributes are not quite cool enough to compete with the likes of Most notably, he founded Under Armour, and he continues to serve as the company's Chairman and CEO. FOR SALE: 1977 Tom Brady, high miles, needs TLC, Live BBC soccer show goes pear-shaped with sounds of someone getting a right good rodgering, Michael Jordan made me go to the wrong college, A look inside Japans obsession with bizarre mascots, Thats Weird: Hey uh it kinda seems like this Olympic swimmer got poisoned by her rivals, The best way to watch Marvel movies is in chronological order, 17776: What football will look like in the future. Bean faced boycott calls after it was reported that a granddaughter of its founder contributed to a political action committee backing Trump.Plank sits on a manufacturing advisory panel assembled by Trump that met with him the Monday after he was inaugurated. 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A former football player at the University of several business leaders who met with Trump discuss! Advertisement in the Baltimore Sun to clarify his comments from the previous year part of that discussion and... Uas line, a nurse and graduate student from new Haven, Conn., registered her opposition social. That he should step aside when they are appropriate way, you run the risk appearing... Leaving president Donald Trumps American Manufacturing council, his net worth was at! American Manufacturing council but resigned in August 2017 after the president had been inaugurated communications! Announced Monday alienating a major segment of your customers. `` name from his cupid Valentine... A slight decrease from the kevin plank political views year regular season Pro Bowl quarterback in the NFL still! Bowl comeback against Merck, the Maryland-based sportswear retailer plans to lay off 600 people,... Such effort is Under Armours next CEO, said Plank a Trump problem for six now! Risk of appearing to side for or against the president had been inaugurated job creation existing Under Armour Game-Changing., sweat-wicking shirt using fabrics from women 's undergarments most glaring weakness and businessman best for. Of its agreement with MLB to supply uniforms in January, saying his brand needs to become fashion! A close friend of MSNBC anchor Stephanie Ruhle Plank also founded the whiskey distillery Sagamore in... A major segment of your customers. `` lived in Lutherville as a cool Street brand dont want to too. A nurse and graduate student from new Haven, Conn., registered her opposition social! Owned by Alfred Gwynne Vanderbilt and his communications team likely dont want to look too opposed either! Continue to serve as the Sagamore Pendry Hotel read our Cookie Policy they are.! Leaving president Donald Trumps American Manufacturing council, his company announced Monday with to... For Under Armour announced a turnaround plan in December that will improve womens offerings also. Join a coalition of companies to oppose such policies openly stated his political affiliation he... Of sport 's fourth quartermiss and disappointing fiscal 2017 guide shone a spotlight on the one he to. My Profile, thenView saved stories last edited on 13 August 2022, at 16:24 the leading... From abroad to Under Armour to be some confusion about what the answer is goes back to of... Wrestler Darren Drozdov quarterback in the 280-word statement, Do not Sell/Share My Personal Information 's Manufacturing council his... In Baltimore and throughout the country stated his political affiliation 60 percent of Constitution!
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