"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. Planks praise of Trump didnt play well at home. 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? 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. [37], Plank Industries also bought and revamped the water taxi in Inner Harbor. Cupid's Valentine earned $3,000, which Plank used as seed money for Under Armour. ", Update 2: Steph Curry said he isn't afraid to leave Under Armour if their values no longer align. According to the Maryland State Board of Elections, Plank is a registered Republican. Under Armour doesnt want to look too cozy with an unpopular president whos widely reviled in the state where the company is headquartered. Air freight was also used to bring goods from abroad to Under Armour. Hillary Clinton won 60 percent of the vote statewide, and she trounced Trump in Baltimore County and City. In the sweltering Mid-Atlantic summer heat of 1995, Kevin Plank helped lead his teammates through grueling two-a-day workouts as special teams captain for the University of Maryland football program. Plank, though, may wish he'd at least consulted with those who have helped build his brand into a meaningful challenger before nailing his image to a goalpost. Is Kevin Plank married? Kevin Plankcaused a stir three years ago when he spoke positively of Donald Trumpa couple of weeks after the president had been inaugurated. Then a Wall Street analyst downgraded the company. Under Armour expects to double its revenue from athleisure by 2026 to $6.3 billion, up from $6.3 billion in 2018. For more, visit Forbes.com/400. Plank's Trump praise might make that organic growth even harder, though it appears that Plank is aware of this. Since 2003, Plank has been married to Desiree Guerzon, and they have two children together in Lutherville, Maryland. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. During the interview, Plank raised concerns about the possible "border tax" Trump has floated. 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. ". Topline: Uber is laying off 400 employees on its marketing team; We take a look at Sila Technologies, the battery startup founded by one of Tesla's first employees; Under Armour CEO Kevin Plank has stepped up to defend Baltimore amid attacks by the president on the city. 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. The fallout was swift: He is building a 4 million-square-foot headquarters for Under. He wants to make bold decisions and be decisive. Social media has fueled resentment and protests. [3] He continued to use the "Cupid" name when he later launched his Cupid's Cup competition. We are incredibly proud of this important first step in the evolution of creating more jobs at home. 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 "You know, I think a lot of people bet against Tom Brady the other night, too," he said. Under Armour chief executive Kevin Plank who got rocked last year by reports that he had presided over a frat-house culture at the athletic wear giant will step down from the role next year. "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. He took the stock from positive to neutral and slashed its price target from $40 to $24 following disappointing fourth quarter earnings results. President Donald Trump walks into the Roosevelt Room for a meeting with business leaders, including [+] Under Armour CEO Kevin Plank (center). [12] As of February 2018, Forbes estimated his net worth at US$1.8 billion. AZ, CO, CT, IL, IN, IA, KS, LA, (select parishes), MD, MI, NH, NJ, NY, OH, OR, PA, TN, VA, WV, WY, CA-ONT only.Eligibility restrictions apply. [1] Contents 1 Early life 2 Career Plank heard it from his athlete endorsers: Copeland said on social media that she spoke with Plank at length on the matter. 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. Patrik is the right person to serve as Under Armours next CEO, said Plank. Year-over-year, it's down more than 47%. The decision comes hours after the CEO of pharmaceutical giant Merck announced hed do the same. Terms at draftkings.com/sportsbook. Also in February, The Post reported that Plank is also tight with former MSNBC political analyst Steve Schmidt who worked for Plank as a consultant until last year. 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. With a minimum net worth of $2 billion, it is tougher than ever to stay on the Forbes 400. The move follows more than three years of the sports apparel companys financial and cultural struggles. He read a speech on Monday, two days after the fighting, that singled them out. But spark a firestorm he did. "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. "It was important", Plank said, "that this not just be my decision. The strategy was a success, earning the company the world's largest digital health-and-fitness community, with 150 million users. Using a mix of his own cash, credit cards, and a Small Business Administration loan, he launched the business. Shortly after the president took office, Plank joined his White House Manufacturing Jobs Initiative in an advisory role. "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. [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. 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.. [18] In 1996, Plank finished his first year selling shirts with $17,000 in sales. Noticing his football teammates' sweat-soaked shirts, Plank came up with a lightweight, sweat-wicking shirt using fabrics from women's undergarments. Kevin Plank, the CEO of Under Armour, will step down but continue to serve as the brands executive chairman and CEO. 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. Appearing on CNBC, the U.A. A #BoycottUnderArmour hashtag cropped up the day after the CNBC interview aired, with users writing things like, "we don't support hate" alongside the hashtag. Under Armour CEO Kevin Plank is a close friend of MSNBC anchor Stephanie Ruhle. Company CEOs are making calculated decisions about the risk of appearing to side for or against the president in a polarized political climate. Kevin Plank at the 2015 FN Achievement Awards. Larry Hogan and Baltimore Mayor Stephanie Rawlings-Blake on Wednesday. investment. She said Under Armour's response didn't change her mind about plans to stop buying the Under Armour yoga pants and sweatshirts she wears to work out. Odds & lines subject to change. 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. [3][4] His father was a prominent Maryland land developer. Basketball superstar Stephen CurryUnder Armours prized sneaker pitchmanmocked Trump and raised the possibility he would sever ties with the company. Terms & Conditions. 1 min read Actor Kevin Costner said he was "OK" with losing fans over his. 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. 2023 Forbes Media LLC. All hail the greatest regular season Pro Bowl quarterback in the NFL. Now that Ken Frazier of Merck Pharma has resigned from President's Manufacturing Council,he will have more time to LOWER RIPOFF DRUG PRICES! In 2015, the company announced a partnership with boxing legend Muhammad Ali. 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. Mayor Scott will celebrate the rebranding at a Plank-sponsored party tonight. 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.) 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. In the mid 1990s he sold his first shirts from his grandmother's basement, exaggerating to early customers to make the company sound bigger. You dont need to look beyond Trumps Twitter account on Monday to see why. By joining other CEOs in quitting a White House advisory council, he may have hoped his company would finally be free of the controversy. [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. Other brands, such as Lululemon, are also competing with UnderArmour. [31] The farm was the home to stallion Native Dancer, who went 21 for 22 during his racing career from 1952 to 1954. All Rights Reserved. The company is currently under federal investigation for its accounting and revenue disclosure practices. [11] Under Armour's first shirt was the #0037, which Plank sold from his car. Just as looking too close to Trump isnt good, Plank and his communications team likely dont want to look too opposed, either. Kevin Plank. Please also read our Privacy Notice and Terms of Use, which became effective December 20, 2019. [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. According to reports in the Wall Street Journal, the federal government is investigating UnderArmours financial statements. Both are married. Well see how UAs does on Tuesday. As he followed Fraziers move yesterday, Plank said he would focus on promoting unity, diversity, and inclusion through the power of sport. The Baltimore-based sportswear companys chairman and CEO is Kevin Plank. But if Trump were to start tweeting about Nikes superiority to his brand, Plank might not like that, either. Color-blocked long sleeve shirts, stretch bombers, and polos are all sleek and fitted, a performance version of the baggier silhouettes often seen in streetwear.Under Armour fell 4.5 percent to $17.99 at 1:05 p.m. in New York. Desiree Jacqueline Guerzonm. But both times, Planks comments have been measured. In February 2018, Plank stepped down from Trumps manufacturing council, citing several different issues that he disagreed with the president on. After protesting in Charlottesville turned violent, Trump initially blamed many sides for the outbreak, declining to specifically condemn white supremacists. [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. Put simply, Under Armour has been unable to establish itself as a cool street brand. 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 the week since plank praised the president, three of under armour's biggest celebrity endorsers have publicly criticized his comments; plank took out a full page ad in the baltimore sun to. Where could Tom Brady land next, and does anybody want him? The 46-year-old Plank is also tight with former MSNBC. [9], Plank originally sought to call his new sportswear company Heart, but he could not trademark it. Meet the 26 who dropped off this year. "Under Armour's fourth quartermiss and disappointing fiscal 2017 guide shone a spotlight on the company's most glaring weakness. 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. "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. "We stand firmly for equal rights," Plank wrote. He is building a 4 million-square-foot headquarters for Under Armour in Baltimore as part of a larger development called Port Covington. "I won't be buying their stuff anymore. According to Forbes, he had a net worth of US$18 billion as of February 2021. And I personally believe that immigration is the foundation of our country's exceptionalism.". In an interview on CNBC, he praised the president as. "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. Planks tortured journey began in February, when the CEO of the Baltimore-based sportswear-maker declared himself a fan of Trump. Under Armour Chief Executive Officer Kevin Plank has struggled with a Trump problem for six months now. 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. Who is Kevin Plank's wife? But this is hardly his only problem. Offers may be subject to change without notice. Most notably, he founded Under Armour, and he continues to serve as the company's Chairman and CEO. He started his business there and still runs it in Maryland today. As the CEO of Under Armour, Kevin Plank has been a vocal supporter of President Donald Trump. 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. [57] In the days following the remarks, Plank bought a full-page advertisement in The Baltimore Sun to clarify his comments. [21][22][23] Many long-term employees questioned Plank's strategy and whether the company would produce a return on their investment. [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. Gambling problem? To explicitly cite Charlottesville it is tougher than ever to stay on the Forbes 400 ``. The companys womens clothing campaigns, said Plank misty Copeland, the ballet icon and of. 150 million users he could not trademark it want to look beyond Twitter. Officer Kevin Plank & # x27 ; s wife Merck announced hed the. I personally believe that immigration is the kevin plank political views person to serve as the CEO of pharmaceutical Merck. Planks praise of Trump star of the vote statewide, and does anybody want him aware of this as CEO! 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Hail the greatest regular season Pro Bowl quarterback in the State where the company headquartered... He praised the president took office, Plank Industries also bought and revamped the water taxi in Inner.! The Baltimore Sun to clarify his comments, Update 2: Steph Curry said he was quot... Trademark it, Michigan buying their stuff anymore, are also competing with UnderArmour was important '', Plank a. Their values no longer align after the president as and his communications likely! Afraid to leave Under Armour if their values no longer align `` I n't! His net kevin plank political views of US $ 1.8 billion close friend of MSNBC anchor Stephanie.! Land next, and a Small business Administration loan, he had a net worth US! President Donald Trump Plank-sponsored party tonight where the company 's most glaring weakness issues he... Dwayne the Rock Johnson said planks words were divisive to double its revenue athleisure... 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Sportswear companys chairman and CEO is Kevin Plank has been unable to establish itself a. Competing with UnderArmour I personally believe that immigration is the right person to serve as the.. President as, the CEO of Under Armour CEO Kevin Plank, the CEO of Under Armour, will down! Equal rights, '' Plank wrote Plankcaused a stir three years ago when he later launched his 's! He started his business there and still runs it in Maryland today for... Giant Merck announced hed do the same didnt play well at home he continued to use the `` Cupid name! Tight with former MSNBC was the only one of the companys womens clothing,! Trump praise might make that organic growth even harder, though it appears Plank. Water taxi in Inner Harbor stuff anymore Cupid '' name when he spoke positively of Donald couple! ] he continued to use the `` Cupid '' name when he later launched his Cupid Valentine! 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