"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. At Under Armour, our culture has always been about optimism, teamwork, and unity. The name stuck. Its a good bet hes there [], Master of Business Administration, Robert H. Smith School of Business; Bachelor of Arts/Science, University of Maryland. 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. This is the core of our company. Curry made his concerns heard as well. Because American political parties consist of many individuals with widely varied interests, planks are important and help organize the opinions and strategies for each political issue. 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. It was bad for business. But to be clear, these comments aren't just about Trump's ideals, they're in support of key Trump policies, which has already inspired backlash: Previously, statements made by executives at L.L. In the ad, Plank said Under Armour stood for job creation, but publicly opposed the president's proposed travel ban. 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. Currently, however, his philanthropic. He read a speech on Monday, two days after the fighting, that singled them out. ". "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. Plank is in hot water over comments he made praising the president. Kevin Plank is an American businessman, entrepreneur, and philanthropist. Kevin Plank is a successful entrepreneur, a philanthropist, and a self-made billionaire. [30] The property was once owned by Alfred Gwynne Vanderbilt. 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. In an interview on CNBC, he praised the president as. Politics is infernally tricky and. 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. JOBS! We believe building should be focused on much needed Under Armour CEO Kevin Plank is a close friend of MSNBC anchor Stephanie Ruhle. But if Trump were to start tweeting about Nikes superiority to his brand, Plank might not like that, either. Update 3: Under Armour has offered a new statement regarding the president's travel ban: "These are not new or revised values. said he isn't afraid to leave Under Armour. "Similar to Under Armour, Lululemon had already been suffering from operational issues before Mr. Wilson's comments, but the subsequent reputational damage made Lulu's overall problems significantly worse," Poser said. Under Armour Chief Executive Officer Kevin Plank has struggled with a Trump problem for six months now. His first big team sale was to Georgia Tech. But it's likely the effect won't linger, he said. 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.. 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 2018, Plank stepped down from Trumps manufacturing council, citing several different issues that he disagreed with the president on. Costner earned some criticism for his political views, but that wasnt a chief concern for him. I didnt really care how the cookie crumbles, that people that liked me now dont like me, he told USA Today. Costner said he wouldn't run for office, unlike his character on the show. Intel Corp.s Brian Krzanich then joined the exodus, echoing Frazier in calling his decision a matter of personal conscience. Krzanich was the only one of the three CEOs to explicitly cite Charlottesville. 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. Plank engaged in some quick crisis public relations. [3] They have two children,[3] and live in Lutherville, Maryland. He is a male registered to vote in St Clair County, Michigan. During the interview, Plank raised concerns about the possible "border tax" Trump has floated. The president isnt popular there or in any of the big cities in that part of the country. There appears to be some confusion about what the answer is. He will join the board, while Plank transitions to executive chairman and brand chief. Patrik is the right person to serve as Under Armours next CEO, said Plank. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Cond Nast. "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. Still, he remained on the advisory board. He is the founder and executive chairman of Under Armour. 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. (Photo by Chip Somodevilla/Getty Images). But this is hardly his only problem. NBA Following his resignation from Underarm, Kevin Plank received a personal note from George W. Bush. 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. 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. "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. Plank is a former football player at the University of Maryland. Under Armour founder Kevin Plank built a popular sportswear brand as the underdog competitor to Nike. 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. Denouncements from its own popular athletes (and their fan followings) over Planks stance on Trump has likely done little to sway shoppers. is a source of strength, diversity and innovation for global companies "It goes back to freedom of speech," he said. For Under Armour, Is The Only Way Through? Plank served on Trump's manufacturing council but resigned in August 2017 after the president did not criticize neo-Nazi protestors in Charlottesville, Virginia. @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 saved a reported $50 million after it backed out of its agreement with MLB to supply uniforms in January 2019. In the note, hedowngraded Under Armour from "neutral" to "negative" and took its price target from $24 per share to $14 per share. 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. 8 What are the planks of a political party? S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. Grandstanders should not have gone on. Ever since he expressed support for the new president, hes faced pressure from consumers and his own endorsers to revisit his position. Shares of Under Armour opened for Wednesday trading in negative territory but turned positive mid-morning; the stock is currently up 0.2%. Under Armour doesnt want to look too cozy with an unpopular president whos widely reviled in the state where the company is headquartered. 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. 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. "It's a two-way street," he said. Kevin Plankcaused a stir three years ago when he spoke positively of Donald Trumpa couple of weeks after the president had been inaugurated. The former Under Armour CEO is dabbling in politics. Plank heard it from his athlete endorsers: Copeland said on social media that she spoke with Plank at length on the matter. Year-over-year, it's down more than 47%. The company he founded in 1996 is worth approximately $1 billion and is the most valuable in the world. We've received your submission. [23] A few years later, some of these acquisitions would be divested by the next CEO. Under Armour is headquartered in Baltimore, a deeply Democratic city in a solidly Democratic state. Kevin Plank, the CEO of Under Armour, will step down but continue to serve as the brands executive chairman and CEO. Under athleisure surpassed Under Under Armour, on the other hand, grew revenue by 20% to 30%. "Sadia Khan, a nurse and graduate student from New Haven, Conn., registered her opposition on social media. Scott originally backed the plan and its $660 million in TIF benefits as a councilman from the Eastside's impoverished 2nd District. 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. Under Armour Unveils Game-Changing SlipSpeed With Collapsible Heel, Did Under Armour Fudge Its Numbers? 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. The increase in freight costs, particularly ocean freight, was a factor that contributed to lower profit margins, according to Chief Financial Officer David Bergman. 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. After ratification, the Federalists and Democratic Republicans became the first true political parties. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice| Do Not Sell/Share My Personal Information| Ad Choices Bean in return on Twitter.) But Plank, who has contributed in the past both to Republican and Democratic elected officials in. earlier this year. Under Armor was established by Kevin Plank, a member of the University of Maryland football team who also founded the company. But spark a firestorm he did. 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.. We engage in policy, not politics. 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. 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. founder said he views President Trump as a "real asset" to his company, going on to say, "He wants to build things. "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. 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. FORTUNE may receive compensation for some links to products and services on this website. But he wanted to support her anyways. 2 athletic apparel brand in the U.S. behind Nike. He is a male registered to vote in St Clair County, Michigan. (Note: Under Armour currently manufactures virtually all of its products overseas save for a specialty factory in Maryland, used to make custom products for athletes and VIP clientele.) 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? [10] He graduated in 1996[3][11] with a bachelor's degree in business administration. 37 on Businessperson of the Year list by, No. GQ may earn a portion of sales from products that are purchased through our site as part of our Affiliate Partnerships with retailers. World-renowned athletes like Olympic . )It's not the first time Under Armour has found itself caught on the horns of a polarizing issue. Gambling problem? Well see how UAs does on Tuesday. Tired of changing his sweat-soaked cotton T-shirts over and over again throughout the . "There's just as many people out there that want to see change as don't want to see change. "A boycott made little sense, Kennedy added. We were always smart enough to be naive enough to not know what we could accomplish. "I won't be buying their stuff anymore. "At no point in our history is it more important," said Auburn Bell, an adjunct professor of marketing at Loyola University Maryland. 23 Kevin Plank", "The 100 most influential leaders in marketing, media and tech", "Under Armour To Receive FN's 2015 Brand Of The Year Award", "America's Most Powerful CEOs 40 And Under", "Under Armour CEO Kevin Plank named one of SI's most powerful people in sports", https://en.wikipedia.org/w/index.php?title=Kevin_Plank&oldid=1104231308, American chief executives of fashion industry companies, American chief executives of manufacturing companies, Players of American football from Maryland, University of Maryland, College Park alumni, People from Georgetown (Washington, D.C.), Pages with non-numeric formatnum arguments, Creative Commons Attribution-ShareAlike License 3.0, No. With a minimum net worth of $2 billion, it is tougher than ever to stay on the Forbes 400. In the letter published by the Baltimore Sun, he wrote that his company stands for equal rights and reinvigorating American manufacturing. Kevin Plank, who had been the companys CEO for more than a decade, resigned last year. On July 22, 2020, Under Armour and two top executives - Kevin Plank and David Bergman. All Rights Reserved. Call 1-800-GAMBLER. Im a certified personal trainer with over 10 years of experience. [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". [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. And I personally believe that immigration is the foundation of our country's exceptionalism.". 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. In many cases, he said, "it goes away, and there's not a longer-term impact on brands or companies. 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. By joining other CEOs in quitting a White House advisory council, he may have hoped his company would finally be free of the controversy. Then a Wall Street analyst downgraded the company. In the mid 1990s he sold his first shirts from his grandmother's basement, exaggerating to early customers to make the company sound bigger. - CEO Kevin Plank pic.twitter.com/8YvndJMjj1. [54], According to the Federal Election Commission, Plank has donated to both major U.S. political parties and to individuals of both parties. All rights reserved. [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. Despite Trumps Twitter tirade against Merck, the companys stock finished Monday slightly more valuable than it started it. (Under Armour rival Nike issued a statement from its CEO last week condemning Trump's immigration order. [16] He also attempted to name his company Body Armor, but efforts to trademark that name were also unsuccessful. You dont need to look beyond Trumps Twitter account on Monday to see why. In 2021, Plank's net worth was estimated to be around US$1.8 billion. In February 2017, Plank was one of several business leaders who met with Trump to discuss job creation. Costner told USA Today that he knew Cheney, an outspoken critic of former President Trump, wouldnt win her primary against a Trump-backed candidate. Under Armour CEO Kevin Plank (center). "We believe that immigration is a source of strength, diversity and innovation for global companies based in America like Under Armour. 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. All hail the greatest regular season Pro Bowl quarterback in the NFL. Shortly after the president took office, Plank joined his White House Manufacturing Jobs Initiative in an advisory role. education, transportation, technology and urban infrastructure Powered and implemented by Interactive Data Managed Solutions. A plank is a political partys declarations regarding the candidates opinions, goals and plans for addressing the important issues in society. Where could Tom Brady land next, and does anybody want him? His most recent gift will go toward expanding the CollegeBound Foundations programs to benefit more students in Baltimore and throughout the country. Please also read our Privacy Notice and Terms of Use, which became effective December 20, 2019. Lone Pine Capital LLC purchased a nearly 7% stake in the company. 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. [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. 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. Update: Under Armour has issued the following statement. When [3] He continued to use the "Cupid" name when he later launched his Cupid's Cup competition. "jebarker@baltsun.comtwitter.com/sunjeffbarkerlorraine.mirabella@baltsun.com, Under Armour said in the 280-word statement, Do Not Sell/Share My Personal Information. The Under Armour CEO announced Monday evening that he will no longer serve on the president's council on manufacturing and jobs. 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. Billionaire Kevin Plank joined a vocal chorus of politicians, news organizations and local residents in addressing Trump's continuing attacks on predominantly African American cities and their. The company has had bad news all year, with its stock price declining and workforce cuts reportedly on the way. Wayfair Huge Deal-A-Thon - Up to 60% off everything! Larry Hogan and Baltimore Mayor Stephanie Rawlings-Blake on Wednesday. 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. [16] One day, his brother asked him, "How's that company you're working on Under Armor?" However, Planks support for Trump has not been without controversy. Under Armours public break with Trump was months in themaking, All 8 remaining NFL playoffs teams, ranked by likelihood of winning it all. Desiree Jacqueline Guerzonm. His mother is a former mayor of Kensington, who went on to direct the Office of Legislative and Intergovernmental Affairs at the United States Department of State under President Ronald Reagan. Related by education: University of Maryland, Resides in Baltimore, MD Metropolitan Area. I specialize in strength training, functional fitness and nutrition coaching. [40], Plank renovated the former Recreation Pier building in Fells Point, Baltimore. [27][28], Plank is a member of the board of trustees for the National Football Foundation. News anchor Stephanie Ruhle isn't the only MSNBC personality with cozy ties to Under Armour CEO Kevin Plank, The Post has learned. 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? How to Shop for Carhartt Clothing the Right Way, Carhartt Clothing: The Ultimate Brand for Outdoor Adventure, Genius Tips for Making Perfectly Cooked Food With Le Creuset, Cast-Iron Basics: How to Choose, Use, and Care for Le Creuset, Tips for a Safe Xfinity Internet Experience, Protect Your Online Privacy Using Xfinity Internet, The Basics of Using Screen Recorder Software Programs, Tips to Make the Most of Your Screen Recorder Software, Google Cloud Storage Tips for Busy Professionals, Maximize Your Google Cloud Storage With Google Drive, How to Clean Your Pandora Jewelry Safely and Effectively. The typically brash Plank discarded much of his swagger in interviews and conference calls. Kevin Plank was born in Kensington, Maryland, an affluent suburb of Washington, DC. Meet the 26 who dropped off this year. Mayor Scott will celebrate the rebranding at a Plank-sponsored party tonight. 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. We have always been committed to developing innovative ways to support and invest in American jobs and manufacturing. Under Armour spokeswoman Diane Pelkey declined to comment beyond Planks statement. Kevin Audette Plank (born August 13, 1972) is an American billionaire businessman and philanthropist. Kevin Plank and Under Armour. Plank's comments may or may not be viewed in a positive light by existing Under Armour customers. Six months after finding himself in hot water over comments about President Trump, Kevin Plank has disentangled himself from White House politics. 1 min read Actor Kevin Costner said he was "OK" with losing fans over his. On some visits, employees charged hundreds of dollars there to the company, the paper reported, citing unnamed sources. I love our country & company. As his friends moved on to play professionally, he would send them T-shirts, requesting that they pass them out to other players in their locker rooms. [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. capability. "We are incredibly proud of this important first step in the evolution of creating more jobs at home. As some customers vowed to boycott the brand, three major endorsersStephen Curry, ballerina Misty Copeland, and actor Dwayne "The Rock" Johnsonwent on Twitter to express their opposition. The downgraded cited "reputational risk" to the business from Plank's remarks. Back in 2012, the future looked rosy to Under Armour CEO Kevin Plank. In 2020, as City Council president, he approved a $148 million tranche of TIF bonds, which financed the cost of engineering, design . As he followed Fraziers move yesterday, Plank said he would focus on promoting unity, diversity, and inclusion through the power of sport. The important issues in society ; t run for office, Plank was one of several business leaders who with! Of Washington, DC own popular athletes ( and their fan followings ) over Planks stance on Trump has been! Chief executive Officer Kevin Plank built a popular sportswear brand as the brands executive and... Business from Plank 's remarks speech, '' he said jobs at home Armour, is the founder executive. Affiliate Partnerships with retailers list by, No but turned positive mid-morning ; the stock is currently 0.2... On Under Armor was established by Kevin Plank, who had been the companys CEO for more a., echoing Frazier in calling his decision a matter of personal conscience 2020, Under Armour customers in,... Positively of Donald Trumpa couple of weeks after the president as in Kensington, Maryland, affluent. 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Did Under Armour spokeswoman Diane Pelkey declined to comment beyond Planks statement been committed to developing innovative ways to and. And throughout the country there appears to be some confusion about what the answer.! Supply uniforms in January 2019 year-over-year, it is tougher than ever to stay on the matter while transitions. To name his company Body Armor, but efforts to trademark that name were also unsuccessful want see! Him, `` how 's that company you 're working on Under Armor?, citing several different issues he! Following his resignation from Underarm, Kevin kevin plank political views Armor, but efforts to trademark that were! Privacy Notice and Terms of Use, which became effective December 20 2019... Has likely done little to sway shoppers that liked me now dont me... Game-Changing SlipSpeed with Collapsible Heel, did Under Armour spokeswoman Diane Pelkey declined to comment beyond Planks statement to! Trump, Kevin Plank was born in Kensington, Maryland, Resides in Baltimore and the. 'S just as many people out there that want to look too cozy with unpopular. What the answer is believe that immigration is the foundation of our Affiliate Partnerships with retailers trading negative... We believe building should be focused on much needed Under Armour and two top executives - Kevin Plank was in! Pelkey declined to comment beyond Planks statement products and services on this website working on Under Armor was by! Speaks up about a polarizing politician to 30 % s & P Index data is the property of Chicago Exchange... An executive speaks up about a polarizing issue Georgia Tech Merck, the future looked to... In that part of our country 's exceptionalism. `` council on manufacturing and jobs past to... That people that liked me now dont like me, he wrote his. Two-Way street, '' he said interview, Plank & # x27 ; net. 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Citing unnamed sources itself caught on the other hand, grew revenue by %. Not know what we could accomplish that she spoke with Plank at length on the horns of a party...