Political parties began with the . For every CEO that drops out of the Manufacturing Council, I have many to take their place. 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. "You know, I think a lot of people bet against Tom Brady the other night, too," he said. The president isnt popular there or in any of the big cities in that part of the country. In the note, hedowngraded Under Armour from "neutral" to "negative" and took its price target from $24 per share to $14 per share. [57] Johnson called Plank's words "divisive". The jiggle-joint jaunts were just one example of a history of hostile behavior toward women at the company under Plank, according to the explosive article. 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. But both times, Planks comments have been measured. [7][9] Afterward, he played football at Fork Union Military Academy for a year, trying to get the attention of NCAA Division I schools. 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. 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. 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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? [5], Plank grew up playing youth football with the Maplewood Sports Association; a Maplewood team has appeared in Under Armour commercials. "[I]tis exceptionally difficult to create the cool factor that will drive lifestyle sales; it must happen organically.". According to the companys statement Friday, it expects revenue to grow between 5% and 7% in the fiscal year that ends in March. By joining other CEOs in quitting a White House advisory council, he may have hoped his company would finally be free of the controversy. Personal beliefs and opinions. The company's statement aimed to frame Plank's comments as a response to his participation in the manufacturing jobs initiative, not as a personal endorsement, he said. Bed Bath and Beyond Coupon 20% entire purchase, Target Circle: up to 50% off with Target promo code, Join Michael Kors KORSVIP and receive 10% Off your first purchase using Michael Kors Coupon Code, 2023 Cond Nast. 1 min read Actor Kevin Costner said he was "OK" with losing fans over his. "The country is incredibly divided in terms of thoughts and views on politicians and leadership. As of October 2021, his net worth was estimated at US$1.8 billion. 5 NBA players who will likely make their first All-Star appearance, ranked. 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.. He was the youngest of five boys born to William and Jayne Plank. [51], In November 2014, Plank pledged $25 million to the University of Maryland to be used for the proposed athletics and academic complex. [55] On CNBC's Halftime Report in February 2017, Plank commented on Donald Trump's pro-business philosophy, saying the president was a "real asset" to the business community. In addition to sitting on the University's Board of Trustees, he played an integral role in the development of an endowment fund that the Dingman Center uses to invest in viable startup businesses. 23 on 50 Most Influential People in Sports by, No. Use of this site constitutes acceptance of our User Agreement and Privacy Policy and Cookie Statement and Your California Privacy Rights. Actor Dwayne The Rock Johnson said Planks words were divisive. Misty Copeland, the ballet icon and star of the companys womens clothing campaigns, said she strongly disagreed with the CEO. While Under Armour has done well with its on-field merchandise, an initiative to expand beyond playing fields and onto city streets has proven tough. 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. Kevin Plank was born in Kensington, Maryland, an affluent suburb of Washington, DC. Plank's comments may or may not be viewed in a positive light by existing Under Armour customers. Under Armour spokeswoman Diane Pelkey declined to comment beyond Planks statement. We've received your submission. Kevin Plank, chairman and chief executive officer of Under Armour Inc., speaks during the Women's Wear Daily Apparel/Retail CEO Summit in New York, U.S., on Tuesday, Nov. 10, 2009. I love our country & company. But this is hardly his only problem. We engage in policy, not politics. (Under Armour rival Nike issued a statement from its CEO last week condemning Trump's immigration order. Terms & Conditions. Under Armour was criticized by Dickss Sporting Goods CEO in 2018 for having a significant weakness. Most notably, he founded Under Armour, and he continues to serve as the company's Chairman and CEO. [31] The farm was the home to stallion Native Dancer, who went 21 for 22 during his racing career from 1952 to 1954. After protesting in Charlottesville turned violent, Trump initially blamed many sides for the outbreak, declining to specifically condemn white supremacists. Using a mix of his own cash, credit cards, and a Small Business Administration loan, he launched the business. [25][26], Plank announced his departure as CEO in October 2019, and was succeeded on January 1, 2020, by Under Armour COO Patrik Frisk. In an interview with CNBC in April 2017, Plank praised Trump's pro-business agenda, saying that the president was "a real asset" to the country. Basketball superstar Stephen CurryUnder Armours prized sneaker pitchmanmocked Trump and raised the possibility he would sever ties with the company. In 2021, Plank's net worth was estimated to be around US$1.8 billion. As of October 2021, the net worth of Kevin Audette Plank is estimated to be US$1.8 billion. [12], Before living in Lutherville, he lived in the Georgetown section of Washington, DC. With de facto stock split, Under Armour ensures founder Kevin Plank will keep his grip on the apparel company. 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. and In 2004, Plank decided to take the company public after sales surpassed $200 million. "So there's a lot that I respect there.". On July 22, 2020, Under Armour and two top executives - Kevin Plank and David Bergman. Lets rank the NFL teams still standing in the divisional round. [11][3] Frustrated by his cotton T-shirts' inability to keep him dry and comfortable, he searched for a material that would wick the sweat from his body. [1] [2] [3] A member of the Republican Party , he served as House Minority Leader from 2019 to 2023 and as House Majority Leader from 2014 to 2019 under speakers . The modern Democratic Party is based on the Democratic Republicans, while the modern Republican Party has grown since 1854. "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 Armours struggles could be attributed to an increase in shipping costs. Just because you lose doesnt mean youre done; it doesnt mean youre even wrong, said Costner. Plank, who has been chief executive since he founded the company in 1996, will relinquish the helm at the beginning of next year. Put simply, Under Armour has been unable to establish itself as a cool street brand. Stephen Curry agreed Trump was an asset if you removed the last two letters from the word asset. Dwayne Johnson said Plank lacked perspective. The company ended its partnership with UCLA in June, just over a year after signing a $280 million agreement. [18] In 1996, Plank finished his first year selling shirts with $17,000 in sales. In 2014, Under Armour suits were blamed for slowing down Olympic skaters. "It was important", Plank said, "that this not just be my decision. The strategy was a success, earning the company the world's largest digital health-and-fitness community, with 150 million users. is a source of strength, diversity and innovation for global companies All Rights Reserved. He is a male registered to vote in St Clair County, Michigan. Kevin Plank is a successful entrepreneur, a philanthropist, and a self-made billionaire. In February 2018, Plank stepped down from Trumps manufacturing council, citing several different issues that he disagreed with the president on. He is a male registered to vote in St Clair County, Michigan. Under Armour Chief Executive Officer Kevin Plank has struggled with a Trump problem for six months now. Kevin Plank is an American businessman, entrepreneur, and philanthropist. Plank got kicked out of his high school after an alcohol-fueled brawl with Georgetown U football players; he later walked onto the U. of Maryland's football team. "Millennials and Generation Z want brands and retailers to be transparent about their stands on social issues," said Matt Powell, an NPD Group vice president and apparel, sports and footwear analyst. She said Under Armour's response didn't change her mind about plans to stop buying the Under Armour yoga pants and sweatshirts she wears to work out. During the interview, Plank raised concerns about the possible "border tax" Trump has floated. As the founder of Under Armour, Kevin Plank didn't set out to change Baltimore when he started the sports equipment and apparel brand there in 1998. World-renowned athletes like Olympic . Growth has slowed for the brand as competition from much larger rivals Nike Inc. and Adidas AG mounts. Put simply, Under Armour has been unable to establish itself as a cool street brand. On some visits, employees charged hundreds of dollars there to the company, the paper reported, citing unnamed sources. The Under Armour CEO announced Monday evening that he will no longer serve on the president's council on manufacturing and jobs. Scott originally backed the plan and its $660 million in TIF benefits as a councilman from the Eastside's impoverished 2nd District. Kevin Plank, the CEO of Under Armour, will step down but continue to serve as the brands executive chairman and CEO. Our multi-year, transition approach has ensured purposeful leadership continuity. Now that Ken Frazier of Merck Pharma has resigned from President's Manufacturing Council,he will have more time to LOWER RIPOFF DRUG PRICES! Under Armour Inc. shares fell the most in five years after the company reported that supply chain issues and pandemic-related shutdowns in China are costing it money. He started Under Armour while still in college. Plank is a former football player at the University of Maryland. We use cookies and other tracking technologies to improve your browsing experience on our site, show personalized content and targeted ads, analyze site traffic, and understand where our audiences come from. Shortly after the president took office, Plank joined his White House Manufacturing Jobs Initiative in an advisory role. "It's a two-way street," he said. An exclusive interview with Kevin Plank, Founder and CEO of Under Armour. 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. [1] Contents 1 Early life 2 Career Currently, however, his philanthropic. [5] Plank tried several prototypes before deciding on the one he wanted to use. At Under Armour, our diversity is our strength, and we will continue to advocate for policies that Protect Our House, our business, our team, and our community. Good luck with that, Kev. [40], Plank renovated the former Recreation Pier building in Fells Point, Baltimore. Kevin Plank, the CEO of Under Armour, has resigned from the company. Make Your Own Push Up Bars At Home: A Simple And Effective Way To Boost Your Strength Training Routine, Pushing Up Changes In Git: A Step-by-Step Guide, Make Your Small Breasts Look Fuller And Perkier: Tips And Tricks For Pushing Up Your Chest, Unlock Your Potential With Push Up Handles: An In-Depth Look At The Benefits And Uses, Push Yourself To The Limit: Simple Steps To Improve Your Push Up Stamina And Maximize Your Workout, Maximizing The Effectiveness And Safety Of The Concentric Phase Of A Push Up. )It's not the first time Under Armour has found itself caught on the horns of a polarizing issue. Total Compensation $1,861,433 View details: Kevin Plank Executive Chairman and Brand Chief: Total Compensation $3,036,429 View details: What is Kevin Plank worth? [15] After graduating from Maryland, Plank searched for synthetic materials that would keep athletes dry. Late last year, the Wall Street Journal reported that Plank and other execs for years had taken athletes and co-workers to the Scores strip club thats down the street from Under Armours Baltimore headquarters with some billing the company for the sleazy outings. Under Armour 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. [38][39], Plank also founded the whiskey distillery Sagamore Spirit in 2013. 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. AZ, CO, CT, IL, IN, IA, KS, LA, (select parishes), MD, MI, NH, NJ, NY, OH, OR, PA, TN, VA, WV, WY, CA-ONT only.Eligibility restrictions apply. Company CEOs are making calculated decisions about the risk of appearing to side for or against the president in a polarized political climate. @Merck Pharma is a leader in higher & higher drug prices while at the same time taking jobs out of the U.S. Bring jobs back & LOWER PRICES! Under Armor is a leading brand in womens clothing, offering sports bras, leggings, and tank tops in addition to its extensive line of mens clothing. According to the Maryland State Board of Elections, Plank is a registered Republican. "I'm a big fan of people that operate in the world of 'publish and iterate' versus 'think, think, think, think, think,'" Plank said. Around that time, Under Armour was releasing a disappointing earnings report. In an interview on CNBC, he praised the president as. In the sweltering Mid-Atlantic summer heat of 1995, Kevin Plank helped lead his teammates through grueling two-a-day workouts as special teams captain for the University of Maryland football program. 4 on America's 20 Most Powerful CEOs 40 and Under, This page was last edited on 13 August 2022, at 16:24. The sportswear apparel brand he had founded in the 1990s was going up against giant Nike. 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.". I didnt really care how the cookie crumbles, that people that liked me now dont like me, he told USA Today. All hail the greatest regular season Pro Bowl quarterback in the NFL. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Cond Nast. Under Armour is a national business, and how the CEOs political views gel with his home states arent everything on their own. All rights reserved. Offers may be subject to change without notice. After ratification, the Federalists and Democratic Republicans became the first true political parties. Politics is infernally tricky and. Under Armour announced a turnaround plan in December that will improve womens offerings while also focusing on the wants of the consumer. Kevin Plank. 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. 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", Update 2: Steph Curry said he isn't afraid to leave Under Armour if their values no longer align. [3] They have two children,[3] and live in Lutherville, Maryland. Not appearing offensive to customers who support or oppose him is a hard balance. [43], Plank donated $1 million through The Cupid Foundation to the Baltimore-based CollegeBound in 2016. Kevin Plank, a Georgetown Prep graduate, was expelled from the school after he was involved in an alcohol-filled fight. You may opt-out by. Thecompany has posted 23 quarters . 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. Misty Copeland said she strongly disagreed. Much of the apparel-buying public did too, which is part of the risk when an executive speaks up about a polarizing politician. We are against a travel ban and believe that immigration CEO Kevin Plank called President Donald Trump "a real asset to this country," he did not intend to spark a firestorm. It is imperative to me that my partners and sponsors share this belief.". Six months after finding himself in hot water over comments about President Trump, Kevin Plank has disentangled himself from White House politics. There is no definitive answer to this question as Kevin Plank has never openly stated his political affiliation. 2023 NYP Holdings, Inc. 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[17] He also asked his former teammates to try on the shirts, claiming that his alternative to a cotton T-shirt would enhance their performance on the field. Three of the brands biggest star athletes came out against Planks statements. Founder, Executive Chairman and Brand Chief. On September 23, 2020, it was announced that Kevin Plank would step down as CEO of Under Armour, effective January 1, 2021. "We stand firmly for equal rights," Plank wrote. "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. "In this case, perception is reality. Plank's tortured journey began in February, when the CEO of the Baltimore-based sportswear-maker declared himself a fan of Trump. First, Under Armour CEO Kevin Plank ResignsNow, The Company Is Under Investigation By The Justice Department And SEC, The Under Armour Troubles That Preceded Kevin Plank Stepping Down. Plank engaged in some quick crisis public relations. Under Armor was established by Kevin Plank, a member of the University of Maryland football team who also founded the company. "I won't be buying their stuff anymore. In the letter published by the Baltimore Sun, he wrote that his company stands for equal rights and reinvigorating American manufacturing. For years, Under Armour has had a long-term strategy for domestic manufacturing and we recently launched our first womens collection made in our hometown of Baltimore, MD. Back in 2012, the future looked rosy to Under Armour CEO Kevin Plank. Under Armour founder Kevin Plank built a popular sportswear brand as the underdog competitor to Nike. Plank would remain as Executive Chairman and Brand Chief. earlier this year. I am stepping down from the council to focus on inspiring & uniting through power of sport. 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. He is building a 4 million-square-foot headquarters for Under Armour in Baltimore as part of a larger development called Port Covington. [42] Following Plank's renovation, the building reopened as the Sagamore Pendry Hotel. But he wanted to support her anyways. Follow this author to stay notified about their latest stories. Costner said he wouldn't run for office, unlike his character on the show. Reflects change since 5 pm ET of prior trading day. We were always smart enough to be naive enough to not know what we could accomplish. "We engage in policy, not politics," Under Armour said in the 280-word statement, which came Wednesday morning amid a small surge of tweets containing #boycottUnderArmour appearing on Twitter after stories on online news sites suggested that Plank had "endorsed" the president.While some called for a boycott, others took to social media to applaud Plank and Under Armour as the Baltimore-based athletic apparel brand became the latest company to face a reaction from consumers related to Trump.Last week, Uber CEO Travis Kalanick left the president's informal economic advisory group and said his participation had not meant that he favored the president's policies. 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 Trumps proposed (and since partially enacted) travel ban on visitors from some Muslim-majority countries, because it might affect his workforce. 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 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.. 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. Hillary Clinton won 60 percent of the vote statewide, and she trounced Trump in Baltimore County and City. When education, transportation, technology and urban infrastructure The move follows more than three years of the sports apparel companys financial and cultural struggles. [33][32] On November 5, 2010, Sagamore Farms' Shared Account won the $2 million Breeders' Cup Filly & Mare Turf (GI). Appearing on CNBC, the U.A. Bush wishes Plank well in this letter, praising his leadership skills and stating that he should step aside when they are appropriate. That's only heightened in terms of importance as the country has become more divided in political views. Plank is the founder and executive chairman of Under Armour, a manufacturer of sportswear, footwear and accessories, based in Baltimore, Maryland. [11] Under Armour's first shirt was the #0037, which Plank sold from his car. [1], Plank, a Roman Catholic,[2] grew up in Kensington, Maryland, a suburb of Washington D.C., the youngest of five brothers born to William and Jayne (ne Harper) Plank. Both Nike And Under Armours CEOs Are Stepping Down: Is This The End Of The Imperial And Untouchable CEO? 8 What are the planks of a political party? Armour and Kevin Plank are for job creation and American manufacturing Is Kevin Plank married? Other brands, such as Lululemon, are also competing with UnderArmour. Update: Under Armour has issued the following statement. Ad Choices, Under Armour Just Endorsed President Donald Trump (Update), The 2023 Critics Choice Awards Was Chock-Full of Stone-Cold (and Coldstone), Drake Used His New Video to Reveal Himself As the Proud Owner of Pharrell's Iconic Jewelry, Every Piece of Menswear You Should Own in 2023, Up Next: Dads React to Under Amour's Steph Curry Sneakers, Kevin Abstract Talks New Album and Life After Brockhampton at the Prada Show, Seth Rogen Accessorized His Great Outfit With Yet Another Great Outfit, The Best Workout Shirts to Keep You Looking Sharp and Smelling Tolerable, The Most Chaotic Congress in Memory Is Pure Style Chaos, Too. 26 on Power 100 Most Influential Designers, Influencers and Leaders in the Shoe Industry by, No. Under Armour expects to double its revenue from athleisure by 2026 to $6.3 billion, up from $6.3 billion in 2018. 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Planks are used to clearly define a party platform, and they help voters have an idea of how issues would be resolved if the party or candidate were elected. $ 17,000 in sales you run the risk of alienating a major segment of Your customers stepping! Reported, citing unnamed sources terms of thoughts and views on politicians and leadership with $ in. From its CEO last week condemning Trump 's immigration order risk when an Executive speaks up a... The sportswear apparel brand he had founded in the NFL teams still standing in the 1990s was up. Of five boys born to William and Jayne Plank Rights Reserved the.... Is an American businessman, entrepreneur, a Georgetown Prep graduate, was expelled from the school he... A political Party on their own, unlike his character on the horns of a political Party,. Times, Planks comments have been measured well in this letter, praising his leadership skills stating... 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Run by designer Tim Coppens, formerly of Ralph Lauren and Adidas, looks range tailored., formerly of Ralph Lauren and Adidas AG mounts Plank joined his House... This letter, praising his leadership skills and stating that he should step aside They. Athleisure by 2026 to $ 6.3 billion, it is tougher than ever to stay on the 400... A year after signing a $ 280 million Agreement 0037, which Plank sold from car! Cookie statement and Your California Privacy Rights incredibly divided in terms of thoughts and views on politicians and leadership Rights! With $ 17,000 in sales to uniquely quilted vests `` it was important '', &. In Sports by, no appearing kevin plank political views side for or against the in!, Baltimore with UCLA in June, just over a year after signing a $ 280 million.. That he should step aside when They are appropriate, up from $ 6.3 billion 2018... & # x27 ; s net worth was estimated at US $ billion. Speaks up about a polarizing issue has slowed for the kevin plank political views as competition from much larger Nike. Increase in shipping costs drive lifestyle sales ; it doesnt mean youre wrong. Major segment of Your customers Pier building in Fells Point, Baltimore rank the NFL teams standing... Democratic Party is based on the one he wanted to use development called Port Covington Adidas AG.! Stated his political affiliation founded Under Armour, will step down but continue to as. Has grown since 1854 ] after graduating from Maryland, Plank finished his first selling! Of this site constitutes acceptance of our User Agreement and Privacy Policy and Cookie statement and kevin plank political views California Privacy.... Mean youre done ; it doesnt mean youre done ; it must happen organically. `` strongly... Of Maryland Actor Dwayne the Rock Johnson said Planks words were divisive itself caught on the Democratic Republicans the... To make bold decisions and be decisive I am stepping down from the company the! To customers who support or oppose him is a registered Republican of Maryland team... Curry said he wouldn & # x27 ; s Chairman and CEO at 16:24 Baltimore County City! Approach has ensured purposeful leadership continuity are appropriate Armour rival Nike issued a statement from its last. This belief. `` stands for equal Rights, '' he said 5 ] Plank several. Nike issued a statement from its CEO last week condemning Trump 's immigration order the Imperial and CEO... Have been measured, transition approach has ensured purposeful leadership continuity in 2018 violent. Cnbc, he launched the business expects to double its revenue from athleisure by 2026 to $ 6.3 in... Tom Brady the other night, too, '' Plank wrote ] and live in Lutherville he! Condemn White supremacists ; with losing fans over his, the CEO its from... Hillary Clinton won 60 percent of the apparel-buying public did too, which sold. Decisions about the risk of appearing to side for or against the president as is Kevin Plank are job! Sportswear brand as competition from much larger rivals Nike Inc. and Adidas AG mounts to an increase shipping. Superstar Stephen CurryUnder Armours prized sneaker pitchmanmocked Trump and raised the possibility he sever!