Most notably, he founded Under Armour, and he continues to serve as the company's Chairman and CEO. Good luck with that, Kev. 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. SEC Is Investigating And Sends Kevin Plank A Wells Notice. 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. "In this case, perception is reality. [21][22][23] Many long-term employees questioned Plank's strategy and whether the company would produce a return on their investment. "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. Kevin Audette Plank (born August 13, 1972) is an American billionaire businessman and philanthropist. 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. investment. [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. Donald J. Trump (@realDonaldTrump) August 15, 2017. Under Armour spokeswoman Diane Pelkey declined to comment beyond Planks statement. Under Armours struggles could be attributed to an increase in shipping costs. Plank spent hours in one-on-one conversations to try to persuade those employees. I'm not going to stop using a good quality product just because they don't have the same views I have. [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. Wayfair Huge Deal-A-Thon - Up to 60% off everything! 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. According to a memo from CEO Patrik Frisk, the Maryland-based sportswear retailer plans to lay off 600 people. "When they realized there was some backlash and that's not hard to do with social media, it appears quickly, they were quick to come out with a response," Bell said. Update: Under Armour has issued the following statement. On July 22, 2020, Under Armour and two top executives - Kevin Plank and David Bergman. I am stepping down from the council to focus on inspiring & uniting through power of sport. I write about women who run companies, countries and currencies. "I'm a big fan of people that operate in the world of 'publish and iterate' versus 'think, think, think, think, think,'" Plank said. [59] Additionally, he publicly opposed President Trump's decision to withdraw from the Paris Accord[60] and was among the Fortune 500 CEOs to sign a pledge to promote workplace diversity and inclusion. According to the companys statement Friday, it expects revenue to grow between 5% and 7% in the fiscal year that ends in March. Plank had said in an interview on CNBC that Trump was "an asset to the country." 4. Powered and implemented by Interactive Data Managed Solutions. Terms & Conditions. Adidas Since 2003, Plank has been married to Desiree Guerzon, and they have two children together in Lutherville, Maryland. 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. * 21+ (19+ CA-ONT) (18+ NH/WY). [40] Its first bottles were sold at stores in 2016. @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! Kevin Plank, who had been the companys CEO for more than a decade, resigned last year. 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 former Under Armour CEO is dabbling in politics. There appears to be some confusion about what the answer is. 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. and In an interview on CNBC, he praised the president as. Call 1-800-GAMBLER. Shares of Under Armour opened for Wednesday trading in negative territory but turned positive mid-morning; the stock is currently up 0.2%. [42] Following Plank's renovation, the building reopened as the Sagamore Pendry Hotel. "It goes back to freedom of speech," he said. Under athleisure surpassed Under Under Armour, on the other hand, grew revenue by 20% to 30%. "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. It was bad for business. 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. [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. 2022 Fortune Media IP Limited. Exploring The Possibilities Of Powered Rails: Fly High Into The Sky! [20], Between 2014 and 2016, Under Armour spent close to $1 billion to acquire makers of activity- and diet-tracking mobile apps. When Kevin Plank endorsed President Donald Trump in 2017, he caused a stir. During the first quarter of 2018, the companys ecommerce revenue fell by 6%YoY and accounted for 39% of its total DTC business. The company has had bad news all year, with its stock price declining and workforce cuts reportedly on the way. 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. [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. 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.. Poser also sees parallels to the time Lululemon founder Chip Wilson blamed women's bodies for sheerness problems withLululemon yoga pants. Patrik is the right person to serve as Under Armours next CEO, said Plank. In the note, hedowngraded Under Armour from "neutral" to "negative" and took its price target from $24 per share to $14 per share. [35], Beginning in 2013,[36] Plank's real estate firm, Sagamore Development, was leading a $5.5-billion mixed-use development project in Baltimore's Port Covington area. 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. The Under Armour founder discusses early lessons and pivotal decisions. The company ended its partnership with UCLA in June, just over a year after signing a $280 million agreement. Back in 2012, the future looked rosy to Under Armour CEO Kevin Plank. "Loyola's Bell said Under Armour is handling the negative reaction in the best way possible. [37] The building was originally built in 1914 to store port cargo and later served as a community center and studio for the television series Homicide: Life on the Street; it closed in 1999. 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.. Growth has slowed for the brand as competition from much larger rivals Nike Inc. and Adidas AG mounts. At Under Armour, our culture has always been about optimism, teamwork, and unity. Kevin Audette Plank (born August 13, 1972) is an American billionaire businessman and philanthropist. The typically brash Plank discarded much of his swagger in interviews and conference calls. Under Armour is headquartered in Baltimore, a deeply Democratic city in a solidly Democratic state. It was not to be. The brand's lifestyle attributes are not quite cool enough to compete with the likes of [9][10] He was not recruited by the top-tier collegiate football programs. 2023 NYP Holdings, Inc. All Rights Reserved, taken athletes and co-workers to the Scores strip club, Under Armour shares tank after surprise loss, profit warning, Under Armour warns of hit to earnings due to supply chain challenges, Under Armour shares soar as shoppers load up on comfy clothing, The 7 best Prime Day deals on Under Armour: Tees, shorts and boxers, close relationship with MSNBC anchor Stephanie Ruhle, McDonald's shares fall amid chicken sandwich craze, Hochul silent on '$306B' Penn Station redevelopment plan in State of the State address, Boardroom activism will cause tremendous grief for Disney's Bob Iger, 'Magic mushroom' gets high praise from Le Bernardin chef Eric Ripert, Home Depot soon changing how it pays hourly employees, Celeb chef behind Momofuku blasts Costco's 'inedible, disgusting' chicken, TurboTax, QuickBooks owner slammed over MailChimp hack: 'Huge black eye', Listen to chilling 911 call ahead of Lisa Marie Presleys cardiac arrest, Marvin Gaye IIIs wife files restraining order after domestic violence arrest, Kanye Wests new wife Bianca Censori wasnt a fan of his music, Nick Sirianni's update on the status of Eagles' star QB Jalen Hurts, Wife of 'Boy Meets World' star William Daniels details 'painful' 'open marriage', I went to McDonalds drive-thru for lunch but left with bags of cash instead. ," he wrote at the time. We believe it is important for Under Armour to be a part of that discussion. 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.
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