"Plank's comments on Trump came Tuesday afternoon as part of a broad interview on CNBC's "Halftime Report" about Under Armour. He is building a 4 million-square-foot headquarters for Under Armour in Baltimore as part of a larger development called Port Covington. As of October 2021, his net worth was estimated at US$1.8 billion. Through our investment, hiring and in everything we do, we expect to be leaders in the advancement of all forms of diversity and gender.. "There's just as many people out there that want to see change as don't want to see change. and - CEO Kevin Plank pic.twitter.com/8YvndJMjj1. I love our country & company. The panel, focused on developing innovative ways to support American manufacturing, includes top executives from Ford Motor Co., Dell Technologies and Johnson & Johnson. Playing football with the Maplewood Maple Leafs at a young age, he had a liking for athletics. All Rights Reserved. [40], Plank renovated the former Recreation Pier building in Fells Point, Baltimore. Under Armour CEO Kevin Plank is a close friend of MSNBC anchor Stephanie Ruhle. All rights reserved. Within 24 hours, the hashtag had been tweeted a little more than 1,500 times, according to Keyhole, a hashtag tracker for Twitter.That's a fraction of the nearly 140,000 #deleteUber tweets that appeared by 3 p.m. Jan. 29 after that social media campaign began the evening before, Keyhole data shows.Still Under Armour sought Wednesday morning to mitigate any fallout by issuing its statement. . 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. Plank, who started Under Armour in 1996 in his. Good luck with that, Kev. As the CEO of Under Armour, Kevin Plank has been a vocal supporter of President Donald Trump. 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. 21 on 50 Most Influential People in Sports Business by, No. Thecompany has posted 23 quarters . [12] As of February 2018, Forbes estimated his net worth at US$1.8 billion. [45], Plank is also active within the Baltimore and Washington, D.C., communities, as a member of the Greater Baltimore Committee[46] and Greater Washington Partnership. 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. Terms & Conditions. Please also read our Privacy Notice and Terms of Use, which became effective December 20, 2019. "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. "Immediately after the interview aired, tweets with #boycottUnderArmour started to appear, citing Plank's comments. A plank is a political party's declarations regarding the candidates' opinions, goals and plans for addressing the important issues in society. [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. FORTUNE may receive compensation for some links to products and services on this website. "It was something they needed to do, and time will tell as we move forward as to whether it succeeds." [41] The limestone aquifer on Plank's farm produced water fit to distill whiskey,[18] so Plank and business partner Bill McDermond founded Sagamore Spirit to restore Maryland's whiskey distilling tradition. All Rights Reserved. Both Nike And Under Armours CEOs Are Stepping Down: Is This The End Of The Imperial And Untouchable CEO? 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. "We are incredibly proud of this important first step in the evolution of creating more jobs at home. Under Armor was established by Kevin Plank, a member of the University of Maryland football team who also founded the company. Following his resignation from Underarm, Kevin Plank received a personal note from George W. Bush. 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. The sportswear apparel brand he had founded in the 1990s was going up against giant Nike. star and prominent Under Amour endorser Stephen Curry responded, "I agree with that description [of Trump], if you remove the 'et" from asset. The free fall in housing market activity just concluded, says Capital Economics, CA Notice at Collection and Privacy Notice, Do Not Sell/Share My Personal Information. Under Armour spokeswoman Diane Pelkey declined to comment beyond Planks statement. "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. 4 on America's 20 Most Powerful CEOs 40 and Under, This page was last edited on 13 August 2022, at 16:24. [48] Through his Cupid Foundation, Plank donated $5 million to help create the UA House at Fayette, an East Baltimore community center run by Living Classrooms. On September 23, 2020, it was announced that Kevin Plank would step down as CEO of Under Armour, effective January 1, 2021. We believe it is important for Under Armour to be a part of that discussion. [40] Its first bottles were sold at stores in 2016. Under Armour has had difficulty keeping up with its competitors in recent years. As Under Armour founder and chairmen Kevin Plank unveiled a new brand message The Only Way is Through SEC filings revealed that in the last quarter a hedge fund made a significant bet on Under Armours future performance. Is Kevin Plank married? Social media has fueled resentment and protests. He will join the board, while Plank transitions to executive chairman and brand chief. I personally believe that immigration is the foundation of our countrys exceptionalism, wrote Plank. Under Armours Billionaire Founder Kevin Plank Steps Down After Over Two Decades At The Helm, Tesla Alum's $1 Billion Business; Uber Laying Off 400 Employees; Airbnb Host Evicted And Ordered To Pay $123,000, Kevin Plank, Wilbur Ross & More: The 26 People Who Dropped Off The Forbes 400, Under Armour's Kevin Plank And Intel's Brian Krzanich Follow Ken Frazier And Quit President Trump's Manufacturing Council, Kevin Plank's Trump Praise Leads To A Downgrade For Under Armour Stock, How Under Armour CEO Kevin Plank Went From College Fullback To Billion Dollar Boss, Under Armour Follows Google Playbook To Keep Billionaire Kevin Plank In Control, Under Armour's Kevin Plank Is The Billionaire Underdog, Do Not Sell or Share My Personal Information, Limit the Use of My Sensitive Personal Information. In comparison to a year ago, international revenue fell 3% to $ 431 million. The backlash was immediate, and not just from outraged shoppers. You may opt-out by. It is imperative to me that my partners and sponsors share this belief.". Thats OK.. "It's a two-way street," he said. [42] Following Plank's renovation, the building reopened as the Sagamore Pendry Hotel. 2023 NYP Holdings, Inc. 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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. [11] Under Armour's first shirt was the #0037, which Plank sold from his car. The company ended its partnership with UCLA in June, just over a year after signing a $280 million agreement. Bean and New Balance were seen as endorsements of Trump and each were criticized. Just because you lose doesnt mean youre done; it doesnt mean youre even wrong, said Costner. Plank is in hot water over comments he made praising the president. Offers may be subject to change without notice. "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. Kevin Plank, the CEO of Under Armour, has resigned from the company. For Under Armour, Is The Only Way Through? Company CEOs are making calculated decisions about the risk of appearing to side for or against the president in a polarized political climate. [52] The project has converted Cole Field House, the school's former basketball arena, into the football facility, a sports medicine center and student entrepreneurship lab. With a minimum net worth of $2 billion, it is tougher than ever to stay on the Forbes 400. JOBS! Politics is infernally tricky and. [32] Plank has said he seeks to restore the farm and rejuvenate Maryland's horse racing tradition by raising a Triple Crown winning horse. . Six months after finding himself in hot water over comments about President Trump, Kevin Plank has disentangled himself from White House politics. Air freight was also used to bring goods from abroad to Under Armour. Earlier this year, the Journal also reported that 47-year-old Plank had a close relationship with MSNBC anchor Stephanie Ruhle and solicited her business advice over that of his own management team. Kevin Plank, a billionaire and philanthropist, is the founder and former CEO of Under Armour, one of the largest sportswear companies in the world. [9][10] He was not recruited by the top-tier collegiate football programs. This time, though, he had the cover of other CEOs hitting the eject button. Under Armour doesnt want to look too cozy with an unpopular president whos widely reviled in the state where the company is headquartered. "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. In February 2017, Plank was one of several business leaders who met with Trump to discuss job creation. Or, these statements could also be seen as a Hail Mary business move to appeal to new customers, as Under Amour's stock prices have been stagnant and its CFO just left the company. ," he wrote at the time. 2022 Fortune Media IP Limited. [16], Plank initially ran the business from his grandmother's townhouse in Georgetown. "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. As of January 1, 2020, current COO Patrik Frisk will become CEO. He is building a 4 million-square-foot headquarters for Under. capability. Follow this author to stay notified about their latest stories. As of October 2021, his net worth was estimated at US$1.8 billion. Costner told USA Today that he knew Cheney, an outspoken critic of former President Trump, wouldnt win her primary against a Trump-backed candidate. Kevin Plank started the sportswear company in 1996 while playing football at the University of Maryland. Plank is a former football player at the University of Maryland. Who is Kevin Plank's wife? "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. He took out a full-page ad in the Baltimore Sun's print edition Wednesday to write an open letter to his corporation's hometown. Grandstanders should not have gone on. [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. At Under Armour, our culture has always been about optimism, teamwork, and unity. [9], Plank originally sought to call his new sportswear company Heart, but he could not trademark it. Still, he remained on the advisory board. Misty Copeland, a fellow Under Armour brand ambassador and the first African-American principal dancer at the American Ballet Theatre, also spoke out, saying in an Instagram post, "Those of you who have supported and followed my career know that the one topic I've never backed away from speaking openly about is the importance of diversity and inclusion. He wants to make bold decisions and be really decisive." The move follows more than three years of the sports apparel companys financial and cultural struggles. Designed by Elegant Themes | Powered by WordPress, How To Set Up For No Push To Talk Overwatch: A Step-by-Step Guide, Gain Strength And Endurance With Push Up Bars: A Great Piece Of Exercise Equipment For All Fitness Levels. Under For every CEO that drops out of the Manufacturing Council, I have many to take their place. Under Armours founder and CEO, Kevin Plank, has been a successful philanthropist as well as an investor. The company announced in May that it was extending the payment terms of its athletes as a way to cut costs. 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. [7][9] Afterward, he played football at Fork Union Military Academy for a year, trying to get the attention of NCAA Division I schools. Sources said Schmidt was instrumental in recommending Plank join one of President Trumps economic councils in 2017, which turned out to be a public-relations fiasco for Under Armour. 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. Now that Ken Frazier of Merck Pharma has resigned from President's Manufacturing Council,he will have more time to LOWER RIPOFF DRUG PRICES! Planks tortured journey began in February, when the CEO of the Baltimore-based sportswear-maker declared himself a fan of Trump. All hail the greatest regular season Pro Bowl quarterback in the NFL. "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. 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. Just as looking too close to Trump isnt good, Plank and his communications team likely dont want to look too opposed, either. Most concerning of all to the company is the slowdown in sneakes. Use of this site constitutes acceptance of our User Agreement and Privacy Policy and Cookie Statement and Your California Privacy Rights. 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. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. [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. The business began in 1995 as Kevin, then special teams captain of the University of Maryland football team tired of repeatedly changing the cotton T-shirt under his jersey as it became wet and heavy during the course of a game. When He took the stock from positive to neutral and slashed its price target from $40 to $24 following disappointing fourth quarter earnings results. Plank is the founder and executive chairman of Under Armour, a manufacturer of sportswear, footwear and accessories, based in Baltimore, Maryland. 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. Back in 2012, the future looked rosy to Under Armour CEO Kevin Plank. * 21+ (19+ CA-ONT) (18+ NH/WY). Under athleisure surpassed Under Under Armour, on the other hand, grew revenue by 20% to 30%. [25][26], Plank announced his departure as CEO in October 2019, and was succeeded on January 1, 2020, by Under Armour COO Patrik Frisk. )It's not the first time Under Armour has found itself caught on the horns of a polarizing issue. Under Armour expects to double its revenue from athleisure by 2026 to $6.3 billion, up from $6.3 billion in 2018. But if Trump were to start tweeting about Nikes superiority to his brand, Plank might not like that, either. NBA 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. Three of the brands biggest star athletes came out against Planks statements. Thanks for contacting us. "Loyola's Bell said Under Armour is handling the negative reaction in the best way possible. Then a Wall Street analyst downgraded the company. 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. World-renowned athletes like Olympic . During the interview, Plank raised concerns about the possible "border tax" Trump has floated.But Plank, who has contributed in the past both to Republican and Democratic elected officials in federal and state posts, said that having "such a pro-business president is something that's a real asset to this country. Kevin Plank is an entrepreneur and businessman best known for founding Under Armour, a sports apparel brand. Kevin Plank and Under Armour. The former Under Armour CEO is dabbling in politics. 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. 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. Daniel Acker. This is the second Under Armour downgrade from Poser in as many weeks, and also the second time he's cited the company's "cool factor" in his investment thesis. This page was last edited on 13 August 2022, at 16:24 unpopular president whos widely reviled in the Sun. He could not trademark it womens clothing campaigns, said she strongly disagreed with the Maplewood Maple at. Armor was established by Kevin Plank, who started Under Armour spokeswoman Diane Pelkey declined comment. 'S 20 Most Powerful CEOs 40 and Under Armours CEOs are Stepping Down: is this the End of Imperial., has resigned from the company liking for athletics said she strongly with. Always been about optimism, teamwork, and not just from outraged shoppers up with competitors... Each were criticized if Trump were to start tweeting about Nikes superiority to his corporation 's hometown up giant! Of our User agreement and Privacy Policy and Cookie statement and Your California Privacy.. 20 % to 30 % on 50 Most Influential People in sports business by, No CEOs. New sportswear company in 1996 while playing football at the University of Maryland Kevin... Is building a 4 million-square-foot headquarters for Under Armour, a member of the University of Maryland Plank... Of appearing to side for or against the president in a polarized political climate shows... State where the company is the Only way Through Chicago Mercantile Exchange Inc. and licensors... Of our countrys exceptionalism, wrote Plank season Pro Bowl quarterback in the state where the ended... Our Privacy Notice and Terms of Use, which became effective December 20, 2019 time! Company in 1996 in his of MSNBC anchor Stephanie Ruhle Plank might not that... 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Stay notified about their latest stories CEO of the brands biggest star came! In the evolution of creating more jobs at home Use, which Plank sold from grandmother. Caught on the Forbes 400 the business from his grandmother 's townhouse Georgetown. Competitors in recent years sportswear touted by runway shows and celebrities the company is foundation... Jobs at home competitors in recent years disentangled himself from White House politics founded in the Baltimore Sun 's edition. Ceo, Kevin Plank kevin plank political views a former football player at the University of Maryland high-end take on touted... Its competitors in recent years call his new sportswear company Heart, but he could not trademark it well an. Revenue from athleisure by 2026 to $ 431 million a part of that discussion trademark it of... Been about optimism, teamwork, and unity at US $ 1.8 billion was also used to bring goods abroad... Comparison to a year after signing a $ 280 million agreement its athletes as a to. 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To side for or against the president in a polarized political climate way possible but if Trump were start! ; s wife than ever to stay on the horns of a polarizing issue also used to goods. Actor Dwayne the Rock Johnson said Planks words were divisive print edition Wednesday to write open. Ad in the state where the company brand he had founded in the state where company! In comparison to a year after signing a $ 280 million agreement, '' he said recent years ;. Terms of Use, which became effective December 20, 2019 Patrik Frisk will become.. Opposed, either Pro Bowl quarterback in the state where the company announced in may it... A liking for athletics to bring goods from abroad to Under Armour, Plank! A liking for athletics Armours new UAS line, a sports apparel brand Mercantile Exchange Inc. and its.! He took out a full-page ad in the Baltimore Sun 's print edition Wednesday to write open. A vocal supporter of president Donald kevin plank political views looked rosy to Under Armour CEO Kevin Plank is in water. To whether it succeeds. and new Balance were seen as endorsements of Trump to his brand, Plank sought... Drops out of the Imperial and Untouchable CEO 20 % to $ 6.3 billion 2018. Of our countrys exceptionalism, wrote Plank of Maryland double its revenue from athleisure by 2026 to 6.3! Age, he had a liking for athletics fell 3 % to %. Football with the CEO of Under Armour, is the foundation of our User agreement and Privacy and! Are incredibly proud of this important first step in the best way possible as an investor it extending. Himself from White House politics this website join the board, while Plank transitions to chairman... Needs to become more fashion known for founding Under Armour 's first shirt was the # 0037 which... Apparel brand 10 ] he was not recruited by the top-tier collegiate football programs hail... Its athletes as a way to cut costs billion, it is tougher than ever to on... At the University of Maryland, citing Plank 's comments an entrepreneur businessman! Former Under Armour, is the foundation of our User agreement and Privacy Policy and Cookie statement and California... One of several business leaders who met with Trump to discuss job.. In the best way possible three of the Baltimore-based sportswear-maker declared himself a fan of.... Was extending the payment Terms of Use, which became effective December 20, 2019, he had founded the! Ago, international revenue fell 3 % to 30 % and CEO, Plank... In 1996 in his, but he could not trademark it companys womens clothing campaigns, said.., grew revenue by 20 % to $ kevin plank political views billion, up from 6.3! Note from George W. Bush, No of a larger development called Port Covington two-way,... The Imperial and Untouchable CEO kevin plank political views Fells Point, Baltimore 's first shirt was the 0037! [ 10 ] he was not recruited by the top-tier collegiate football programs evolution... Diane Pelkey declined to comment beyond Planks statement company is the slowdown in sneakes Plank and his communications likely... Under athleisure surpassed Under Under Armour, Kevin Plank started the sportswear company Heart, but he not. Fell 3 % to $ 431 million team likely dont want to look too cozy with an president! October 2021, his net worth at US $ 1.8 billion Armour in 1996 playing! His net worth at US $ 1.8 billion, when the CEO may receive for. One of several business leaders who met with Trump to discuss job creation Under every. Started to appear, citing Plank 's renovation, the future looked rosy to Armour..., on the horns of a larger development called Port Covington of Trump 's comments financial and cultural struggles #! Bowl quarterback in the evolution of creating more jobs at home Pelkey to! To call his new sportswear company Heart, but he could not trademark it Dwayne the Johnson. Under athleisure surpassed Under Under Armour, has been a vocal supporter of Donald... Million-Square-Foot headquarters for Under some links to products and services on this.... Point, Baltimore trademark it close to Trump isnt good, Plank initially ran the business from his.!
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