Terms & Conditions. "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. 8 What are the planks of a political party? 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. Put simply, Under Armour has been unable to establish itself as a cool street brand. "Under Armour CEO and founder Kevin Plank stepping down, replaced by COO Patrik Frisk"; Courtney Regan; "Under Armour founder Kevin Plank is stepping down as CEO", "Under Armour CEO Kevin Plank embarks on megamansion in Baltimore County", "Sagamore Farm history comes alive with visit from a Vanderbilt", "Kevin Plank, founder of Under Armour, enters horse in Preakness", "50 things to do or see in Maryland sports: Visit Native Dancer's grave at Sagamore Farm", "In Baltimore, Under Armour's owner invests in a $5.5 billion bet on his city", "Remaking Baltimore's waterfront, with a splash of whiskey", "Plank's Sagamore Development plans start-up hub in Port Covington", "Sagamore Spirit debuts its distillery in Port Covington", "Under Armour's Kevin Plank enters the whiskey wars", "Historic Recreation Pier reopens as Sagamore Pendry Hotel", "Sagamore unveils first new Baltimore water taxi, a historic Chesapeake throwback", "Kevin Plank donates $1 million to Baltimore's CollegeBound Foundation", "Kevin Plank's foundation funds summer jobs for Cherry Hill students", "Greater Baltimore Committee backs Port Covington TIF", "Transportation workforce development to be top priorities for Greater Washington Partnership", "Kevin Plank, Living Classrooms Foundation unveil UA House in East Baltimore", "Under Armour re-imagines a community center in East Baltimore", "Kevin Plank's Cupid's Cup picks College Park startup for top prize", "Plank giving $25 million for UM athletic, academic project", "Under Armour's Kevin Plank gives $16 million to high school alma mater", "The Most Expensive House in Washington D.C. is Under Armour CEO Kevin Plank's Georgetown Mansion", "Search Campaign Finance Data by Individual Contributor", "Kevin Plank praises Trump as 'passionate' and pro-business", "Under Armour CEO Kevin Plank responds to Trump tempest with letter to Baltimore", "Under Armour CEO Kevin Plank clarifies Trump comments in Baltimore Sun ad", "Under Armour CEO adds his name to those leaving Trump's manufacturing council", "Under Armour's Kevin Plank rips decision to exit Paris climate agreement", "Joe Sullivan, Kevin Plank among 150 CEOs pledging to improve workplace diversity and inclusion, something that President Trump already fully endorses", "2016 Success Achiever of the Year: Kevin Plank", "Hudl founders named to Fast Company list", "Kevin Plank inducted into Sporting Goods Industry Hall of Fame", "2016 Most Influential in Sports LIstBrian France #23", "Power 100: The Most Influential Designers, Influencers and Leaders in the Shoe Industry", "SN ranks the 50 most influential people in sports", "Adweek's Power List 2016: The top 100 leaders in marketing, media and tech", "Here's how Kevin Plank says business owners can create a global brand", "50 Most Influential: No. Plank would remain as Executive Chairman and Brand Chief. 37 on Businessperson of the Year list by, No. "[I]tis exceptionally difficult to create the cool factor that will drive lifestyle sales; it must happen organically.". He read a speech on Monday, two days after the fighting, that singled them out. Thanks for contacting us. Well see how UAs does on Tuesday. "At no point in our history is it more important," said Auburn Bell, an adjunct professor of marketing at Loyola University Maryland. At Under Armour, our culture has always been about optimism, teamwork, and unity. [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. Plank had said in an interview on CNBC that Trump was "an asset to the country." 4. Gambling problem? And Under Armour wants to have it both ways. Kevin Audette Plank (born August 13, 1972) is an American billionaire businessman and philanthropist. He is a male registered to vote in St Clair County, Michigan. He will join the board, while Plank transitions to executive chairman and brand chief. 2 athletic apparel brand in the U.S. behind Nike. Thats OK.. 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. "A boycott made little sense, Kennedy added. Kevin Plank, the CEO of Under Armour, has resigned from the company. As of January 1, 2020, current COO Patrik Frisk will become CEO. "I won't be buying their stuff anymore. [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. Through our investment, hiring and in everything we do, we expect to be leaders in the advancement of all forms of diversity and gender.. [20], Between 2014 and 2016, Under Armour spent close to $1 billion to acquire makers of activity- and diet-tracking mobile apps. 2022 Fortune Media IP Limited. star and prominent Under Amour endorser Stephen Curry responded, "I agree with that description [of Trump], if you remove the 'et" from asset. And I personally believe that immigration is the foundation of our country's exceptionalism.". Bean and New Balance were seen as endorsements of Trump and each were criticized. He lived in Lutherville as a resident of Georgetown before moving to Washington, DC. Tired of changing his perspiration-soaked cotton t-shirts . The Under Armour founder discusses early lessons and pivotal decisions. Some of Under Armours biggest stars publicly broke with the guy who writes their endorsement checks. Its a good bet hes there [], Master of Business Administration, Robert H. Smith School of Business; Bachelor of Arts/Science, University of Maryland. In 2020, as City Council president, he approved a $148 million tranche of TIF bonds, which financed the cost of engineering, design . 6 on 50 Most Influential People in Sports by, No. Kevin Plank, a Georgetown Prep graduate, was expelled from the school after he was involved in an alcohol-filled fight. 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. In February 2017, Plank was one of several business leaders who met with Trump to discuss job creation. The downgraded cited "reputational risk" to the business from Plank's remarks. After ratification, the Federalists and Democratic Republicans became the first true political parties. We have reached out to the brand with some follow-up questions and will update this post if and when they reply. " "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. In 2021, Plank's net worth was estimated to be around US$1.8 billion. Please also read our Privacy Notice and Terms of Use, which became effective December 20, 2019. We have always been committed to developing innovative ways to support and invest in American jobs and manufacturing. [57] Johnson called Plank's words "divisive". Both Plank and her have traveled on his private jet, and she has offered him advice on business matters. Under Armour CEO Kevin Plank (center). [56] Plank's comments drew criticism on social media. "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. 4 on America's 20 Most Powerful CEOs 40 and Under, This page was last edited on 13 August 2022, at 16:24. Kevin Plank is an American businessman, entrepreneur, and philanthropist. 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. [16] He also attempted to name his company Body Armor, but efforts to trademark that name were also unsuccessful. Most notably, he founded Under Armour, and he continues to serve as the company's Chairman and CEO. He said they reflect how businesses believe they will benefit from the lower corporate taxes being advocated by Trump. In comparison to a year ago, international revenue fell 3% to $ 431 million. NBA In the ad, Plank said Under Armour stood for job creation, but publicly opposed the president's proposed travel ban. According to former executives, the company diverted goods meant for factory stores to off-price retailers such as TJ Maxx, the Wall Street Journal reported. (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.) "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. 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. Plank is a former football player who spent his . It also cited allegations of sexual misconduct by male executives including by Planks brother, Scott, who resigned in 2012, according to the Journal and concerns about womens pay and promotions. The backlash was immediate, and not just from outraged shoppers. Kevin Plankcaused a stir three years ago when he spoke positively of Donald Trumpa couple of weeks after the president had been inaugurated. Odds & lines subject to change. 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. Last summer, the company cut ties with a sponsored hunter whose husband had videoed himself spearing a baited bear in Canada.While animal advocates deplored the hunt, many in the hunting community took issue with Under Armour's decision to no longer sponsor the hunter.Politics may prove much more polarizing. We have teammates from different religions, races, nationalities, genders and sexual orientations; different ages, life experiences and opinions. There appears to be some confusion about what the answer is. He started his business there and still runs it in Maryland today. "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. "Immediately after the interview aired, tweets with #boycottUnderArmour started to appear, citing Plank's comments. [16] Plank said he chose the British spelling "armour" because he "thought the phone number 888-4ARMOUR was much more compelling than 888-44ARMOR". News anchor Stephanie Ruhle isn't the only MSNBC personality with cozy ties to Under Armour CEO Kevin Plank, The Post has learned. ", Update 2: Steph Curry said he isn't afraid to leave Under Armour if their values no longer align. Terms at draftkings.com/sportsbook. "It goes back to freedom of speech," he said. Plank's tortured journey began in February, when the CEO of the Baltimore-based sportswear-maker declared himself a fan of Trump. [7][9] Afterward, he played football at Fork Union Military Academy for a year, trying to get the attention of NCAA Division I schools. [27][28], Plank is a member of the board of trustees for the National Football Foundation. 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. [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. 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. Curry made his concerns heard as well. 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. Founder, Executive Chairman and Brand Chief. His most recent gift will go toward expanding the CollegeBound Foundations programs to benefit more students in Baltimore and throughout the country. Under Armour is headquartered in Baltimore, a deeply Democratic city in a solidly Democratic state. Using a mix of his own cash, credit cards, and a Small Business Administration loan, he launched the business. Under Armour is a national business, and how the CEOs political views gel with his home states arent everything on their own. 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.". 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. 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. [2], Plank married Desiree Guerzon, in 2003. Air freight was also used to bring goods from abroad to Under Armour. 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. [5] Plank tried several prototypes before deciding on the one he wanted to use. 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. Kevin Plank, the CEO of Under Armour, will step down but continue to serve as the brands executive chairman and CEO. But this is hardly his only problem. The company ended its partnership with UCLA in June, just over a year after signing a $280 million agreement. The decision comes hours after the CEO of pharmaceutical giant Merck announced hed do the same. In many cases, he said, "it goes away, and there's not a longer-term impact on brands or companies. [5], Plank grew up playing youth football with the Maplewood Sports Association; a Maplewood team has appeared in Under Armour commercials. Under Armours founder and CEO, Kevin Plank, has been a successful philanthropist as well as an investor. It was bad for business. Use of this site constitutes acceptance of our User Agreement and Privacy Policy and Cookie Statement and Your California Privacy Rights. On some visits, employees charged hundreds of dollars there to the company, the paper reported, citing unnamed sources. FORTUNE may receive compensation for some links to products and services on this website. "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. [15] After graduating from Maryland, Plank searched for synthetic materials that would keep athletes dry. 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 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. 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. 2003 Kevin Plank/Spouse. 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. All hail the greatest regular season Pro Bowl quarterback in the NFL. We are against a travel ban and believe that immigration founder said he views President Trump as a "real asset" to his company, going on to say, "He wants to build things. 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. 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. As the CEO of Under Armour, Kevin Plank has been a vocal supporter of President Donald Trump. 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? "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," the statement said.The company, the statement said, seeks fair trade, tax reform and an "inclusive immigration policy that welcomes the best and the brightest and those seeking opportunity in the great tradition of our country. I write about women who run companies, countries and currencies. Since 2003, Plank has been married to Desiree Guerzon, and they have two children together in Lutherville, Maryland. But as Trump supporters take the place of anti-Trump groups in criticizing Under Armour, the 45-year-old CEO finds himself and his company still embroiled in a controversy he may have been looking to escape. [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. Patrik is the right person to serve as Under Armours next CEO, said Plank. Hillary Clinton won 60 percent of the vote statewide, and she trounced Trump in Baltimore County and City. He wants to make bold decisions and be really decisive," Plank said, alluding to Trump's desire to bolster American manufacturing and his plans to build a wall along the US-Mexico border and pass a large infrastructure improvement bill. Kevin Plank was born in Kensington, Maryland, an affluent suburb of Washington, DC. We are incredibly proud of this important first step in the evolution of creating more jobs at home. Kevin Audette Plank (born August 13, 1972) is an American billionaire businessman and philanthropist. [53] Plank donated $1 million to the Archdiocese of Baltimore in 2016 to help 100 more children go to Catholic school. But both times, Planks comments have been measured. Not appearing offensive to customers who support or oppose him is a hard balance. 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.. Daniel Acker. The company is currently under federal investigation for its accounting and revenue disclosure practices. The Baltimore-based sportswear companys chairman and CEO is Kevin Plank. [18] In 1996, Plank finished his first year selling shirts with $17,000 in sales. Appearing on CNBC, the U.A. 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. Since 1957, GQ has inspired men to look sharper and live smarter with its unparalleled coverage of style, culture, and beyond. 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. 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. [61], "Kevin Plank donates $1 million to Baltimore Catholic schools", "How Kevin Plank turned a single idea into a global brand", "2003 Businessperson of the year: The man behind the 'armour', "Under Armour founder gives $16 million to St. John's College High", "How the founder of Under Armour went from getting kicked out of high school to running a $22 billion company", "From rags to microfiber: inside the rapid rise of Under Armour", "WWE's Darren Drozdov thrives 15 years after being paralyzed during match", "Five finalists chosen for Kevin Plank's Cupid's Cup competition", "Taking on the giants: How Under Armour founder Kevin Plank is going head-to-head with the industry's biggest players", "Kevin Plank is betting almost $1 billion that Under Armour can beat Nike", "20 things you didn't know about Under Armour", "Under Armour founder breaks into billionaires club", "Under Armour acquires weight loss app, MyFitnessPal, for $475 million dollars", "Under Armour Buys Apps in Bid to Become Top Fitness Tracker", "Kevin Plank Is Betting Almost $1 Billion That Under Armour Can Beat Nike", "Under Armour exits yet another school sponsorship deal as part of big shrink". His first big team sale was to Georgia Tech. 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. "jebarker@baltsun.comtwitter.com/sunjeffbarkerlorraine.mirabella@baltsun.com, Under Armour said in the 280-word statement, Do Not Sell/Share My Personal Information. CEO Kevin Plank called President Donald Trump "a real asset to this country," he did not intend to spark a firestorm. 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. 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. 16 on 50 Most Influential People in Sports Business by, No. 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. Plank's comments may or may not be viewed in a positive light by existing Under Armour customers. [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. Earlier, L.L. On July 22, 2020, Under Armour and two top executives - Kevin Plank and David Bergman. Grandstanders should not have gone on. He has also given millions of dollars to support disadvantaged Baltimore youth through his company, The Plank Group. is a source of strength, diversity and innovation for global companies ," he wrote at the time. 23 on 50 Most Influential People in Sports by, No. Costner told USA Today that he knew Cheney, an outspoken critic of former President Trump, wouldnt win her primary against a Trump-backed candidate. According to a company announcement, Under Armour will lay off 600 people as a result of the Coronavirus. Happen organically. `` to bring goods from abroad to Under Armour will lay 600... Speech on Monday, two days after the fighting, that singled them.! Has been a successful philanthropist as well as an investor, that singled them.! Spent his since 2003, Plank searched for synthetic materials that would keep athletes dry to establish as... Plank and David Bergman Sports business by, No player who spent his before moving to Washington DC! 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