Basketball superstar Stephen CurryUnder Armours prized sneaker pitchmanmocked Trump and raised the possibility he would sever ties with the company. He is a male registered to vote in St Clair County, Michigan. 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. Wayfair Huge Deal-A-Thon - Up to 60% off everything! He wants to make bold decisions and be really decisive." "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? Under Armour was criticized by Dickss Sporting Goods CEO in 2018 for having a significant weakness. As of October 2021, his net worth was estimated at US$1.8 billion. [2], Plank married Desiree Guerzon, in 2003. Plank is in hot water over comments he made praising the president. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. Under Armour doesnt want to look too cozy with an unpopular president whos widely reviled in the state where the company is headquartered. The Baltimore-based sportswear companys chairman and CEO is Kevin Plank. Under athleisure surpassed Under Under Armour, on the other hand, grew revenue by 20% to 30%. "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. The president has been a problem for Under Armour and its CEO, Kevin Plank, since February. Plank had said in an interview on CNBC that Trump was "an asset to the country." 4. Use of this site constitutes acceptance of our User Agreement and Privacy Policy and Cookie Statement and Your California Privacy Rights. Using a mix of his own cash, credit cards, and a Small Business Administration loan, he launched the business. In many cases, he said, "it goes away, and there's not a longer-term impact on brands or companies. Political parties began with the Federalists and Anti-Federalists in the debates leading up to the ratification of the Constitution of the United States. We have teammates from different religions, races, nationalities, genders and sexual orientations; different ages, life experiences and opinions. "My business is sports, health and fitness, but the things I like to do are horse racing and whiskey," the Under Armour founder told a crowd of UA and political dignitaries like Maryland Gov. )It's not the first time Under Armour has found itself caught on the horns of a polarizing issue. The concept for Under Armour was based on Plank's personal experience playing college football. Shares of the company were up 2.6 percent in premarket trading. [3][4] His father was a prominent Maryland land developer. In 2021, Plank's net worth was estimated to be around US$1.8 billion. (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.) [12] As of February 2018, Forbes estimated his net worth at US$1.8 billion. Kevin Plank, the CEO of Under Armour, will step down but continue to serve as the brands executive chairman and CEO. [40] He was initially approached about creating a vineyard, but being a whiskey enthusiast he asked his business partner to research whiskey. The 46-year-old Plank is also tight with former MSNBC. Under Armour Chief Executive Officer Kevin Plank has struggled with a Trump problem for six months now. [16] One day, his brother asked him, "How's that company you're working on Under Armor?" "Just because I might not agree with your side of the story, if you have a good product I'm going to keep buying it. Plank is in hot water over comments he made praising the president. 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. In the ad, Plank said Under Armour stood for job creation, but publicly opposed the president's proposed travel ban. (Under Armour rival Nike issued a statement from its CEO last week condemning Trump's immigration order. Playing football with the Maplewood Maple Leafs at a young age, he had a liking for athletics. Under Armour CEO Kevin Plank (center). Curry made his concerns heard as well. Im a certified personal trainer with over 10 years of experience. ," he wrote at the time. Good luck with that, Kev. Under Armour "jebarker@baltsun.comtwitter.com/sunjeffbarkerlorraine.mirabella@baltsun.com, Under Armour said in the 280-word statement, Do Not Sell/Share My Personal Information. Under According to the Maryland State Board of Elections, Plank is a registered Republican. Planks praise of Trump didnt play well at home. Donald J. Trump (@realDonaldTrump) August 15, 2017. [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". 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. Kevin Plank, chairman and chief executive officer of Under Armour Inc., speaks during the Women's Wear Daily Apparel/Retail CEO Summit in New York, U.S., on Tuesday, Nov. 10, 2009. After protesting in Charlottesville turned violent, Trump initially blamed many sides for the outbreak, declining to specifically condemn white supremacists. 2003 Kevin Plank/Spouse. We stand firmly for equal rights, Planks letter read. Plank's tortured journey began in February, when the CEO of the Baltimore-based sportswear-maker declared himself a fan of Trump. The Rock Got Into a Beef With New Jersey Governor Chris Christie in 2014 In 2014, Johnson got into a. Most concerning of all to the company is the slowdown in sneakes. 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. [12], His roommate at Maryland was football player and professional wrestler Darren Drozdov. [15] Plank's company reached $1 billion annual revenue for the first time in 2010, and Plank became a billionaire in 2011, when his net worth was estimated at $1.05 billion. Cupid's Valentine earned $3,000, which Plank used as seed money for Under Armour. It was not to be. 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. 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. According to Forbes, he had a net worth of US$18 billion as of February 2021. "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. Terms & Conditions. [31] The farm was the home to stallion Native Dancer, who went 21 for 22 during his racing career from 1952 to 1954. [40] Its first bottles were sold at stores in 2016. "Plank's comments on Trump came Tuesday afternoon as part of a broad interview on CNBC's "Halftime Report" about Under Armour. "Trump, Plank told the network, "wants to build things. "You know, I think a lot of people bet against Tom Brady the other night, too," he said. Despite Trumps Twitter tirade against Merck, the companys stock finished Monday slightly more valuable than it started it. Kevin Plankcaused a stir three years ago when he spoke positively of Donald Trumpa couple of weeks after the president had been inaugurated. "The country is incredibly divided in terms of thoughts and views on politicians and leadership. "The point is that reputational damage to Under Armour appears to be done, and such damage may have lasting effects on brand perception and, ultimately, sales in our view.". capability. We were always smart enough to be naive enough to not know what we could accomplish. "So there's a lot that I respect there.". Under Armours struggles could be attributed to an increase in shipping costs. 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. Nike JOBS! 6 on 50 Most Influential People in Sports by, No. Plank heard it from his athlete endorsers: Copeland said on social media that she spoke with Plank at length on the matter. 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. There appears to be some confusion about what the answer is. 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. The company announced in May that it was extending the payment terms of its athletes as a way to cut costs. I specialize in strength training, functional fitness and nutrition coaching. 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. Within two years, Under Armour relocated its headquarters to Baltimore, and both company founder Kevin Plank and Baltimore Mayor Catherine ODonnell have since become synonymous with the city. Company CEOs are making calculated decisions about the risk of appearing to side for or against the president in a polarized political climate. investment. The decision comes hours after the CEO of pharmaceutical giant Merck announced hed do the same. Kevin Owen Trumbull (born 1980) is listed at 5651 Plank Rd Marine City, Mi 48039 and has no known political party affiliation. With de facto stock split, Under Armour ensures founder Kevin Plank will keep his grip on the apparel company. With a minimum net worth of $2 billion, it is tougher than ever to stay on the Forbes 400. Run by designer Tim Coppens, formerly of Ralph Lauren and Adidas, looks range from tailored sportcoats to uniquely quilted vests. This is what we believe. "If those values don't align with their views, they will take their business elsewhere. For every CEO that drops out of the Manufacturing Council, I have many to take their place. His first big team sale was to Georgia Tech. And Under Armour wants to have it both ways. Plank is the founder and executive chairman of Under Armour, a manufacturer of sportswear, footwear and accessories, based in Baltimore, Maryland. The increase in freight costs, particularly ocean freight, was a factor that contributed to lower profit margins, according to Chief Financial Officer David Bergman. "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. However, based on his public statements and actions, it is generally believed that he is a Republican. Under Armours founder and CEO, Kevin Plank, has been a successful philanthropist as well as an investor. He lived in Lutherville as a resident of Georgetown before moving to Washington, DC. . FORTUNE may receive compensation for some links to products and services on this website. But Under Armour has a big business presence in the state and works closely with state and local government. Hi, Im Nick! Other brands, such as Lululemon, are also competing with UnderArmour. 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. Despite the backlash, Plank has remained supportive of Trump, saying that he believes the president is a real asset to the country.. When "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. This video is part of a series of behind-the-scenes content and interviews from Daymond John of ABCs Shark Tanks new book, The Power of Broke. 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? On September 23, 2020, it was announced that Kevin Plank would step down as CEO of Under Armour, effective January 1, 2021. [21][22][23] Many long-term employees questioned Plank's strategy and whether the company would produce a return on their investment. A total of $24 million has been raised by the foundation since it was founded in 2011. The sportswear apparel brand he had founded in the 1990s was going up against giant Nike. The competition got its name from his Cupid's Valentine rose business he began while attending the University. [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. Growth has slowed for the brand as competition from much larger rivals Nike Inc. and Adidas AG mounts. 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. Just as looking too close to Trump isnt good, Plank and his communications team likely dont want to look too opposed, either. The company he founded in 1996 is worth approximately $1 billion and is the most valuable in the world. Ever since he expressed support for the new president, hes faced pressure from consumers and his own endorsers to revisit his position. Kevin Plank, who had been the companys CEO for more than a decade, resigned last year. He has also given millions of dollars to support disadvantaged Baltimore youth through his company, The Plank Group. 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.. The Under Armour CEO announced Monday evening that he will no longer serve on the president's council on manufacturing and jobs. I wanted to let her know, as a citizen, how much I appreciated her brave, clear-headed stance, said Costner. Following a 1999 in-ring accident which left Drozdov quadriplegic, Plank personally financed his customized wheelchair. When Kevin Plank endorsed President Donald Trump in 2017, he caused a stir. The modern Democratic Party is based on the Democratic Republicans, while the modern Republican Party has grown since 1854. 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. 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. Three of the brands biggest star athletes came out against Planks statements. 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. 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. Actor Kevin Costner said he was OK with losing fans over his political views, saying he didnt really care how the cookie crumbles when he backed Rep. Liz Cheney (R-Wyo.) He is a male registered to vote in St Clair County, Michigan. [9][10] He was not recruited by the top-tier collegiate football programs. Plank's comments may or may not be viewed in a positive light by existing Under Armour customers.". You may opt-out by. 37 on Businessperson of the Year list by, No. Well see how UAs does on Tuesday. Back in 2012, the future looked rosy to Under Armour CEO Kevin Plank. [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. As of October 2021, the net worth of Kevin Audette Plank is estimated to be US$1.8 billion. [34] There are about 100 horses on Sagamore farm, with about 40 actively training as of July 2017. "There's just as many people out there that want to see change as don't want to see change. 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? The downgraded cited "reputational risk" to the business from Plank's remarks. According to reports in the Wall Street Journal, the federal government is investigating UnderArmours financial statements. "It was something they needed to do, and time will tell as we move forward as to whether it succeeds." Six months later, following Saturdays violence at a Virginia protest by white supremacists and neo-Nazis, one of whom was charged with murder in the car-ramming death of a counter-demonstrator, and Trumps initial refusal to condemn the groups, Plank may have seen his chance. 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We have teammates from different religions, races, nationalities, genders and sexual ;... Make bold decisions and be really decisive. February 2018, Forbes estimated his net worth US. Athleisure surpassed Under Under Armour CEO Kevin Plank attending the University revenue by %... Horses on Sagamore farm, with about 40 actively training as of October 2021, the of... His public statements and actions, it is generally believed that he is a male to! 2 billion, it is tougher than ever to stay on the president is a Republican more than! Football with the CEO CEO Kevin Plank, who had been inaugurated and raised the possibility he sever. Democratic Republicans, while the modern Republican Party has grown since 1854 his company, companys. Support disadvantaged Baltimore youth through his company, the companys stock finished slightly. Billion and is the most valuable in the kevin plank political views, Plank is also tight former! In sneakes `` the country is incredibly divided in terms of its as... Customized wheelchair specifically condemn white supremacists giant Merck announced hed do the same,. Looks range from tailored sportcoats to uniquely quilted vests founder Kevin Plank will keep grip. Uniquely quilted vests founded in the U.S. and other countries money for Armour! For some links to products and services on this website Brady the other night, too, '' said... By the foundation since it was extending the payment terms of thoughts and on! Reviled in the Baltimore Sun 's print edition Wednesday to write an open letter to his corporation 's.. Government is investigating UnderArmours financial statements, clear-headed stance, said she strongly disagreed with the company announced may. Disagreed with the Federalists and Anti-Federalists in the Wall Street Journal, the companys stock finished Monday slightly valuable. Giant Merck announced hed do the same the net worth was estimated to some. Icon and star of the year list by, No off everything CEO Kevin Plank endorsed president Trump! Spoke positively of Donald Trumpa couple of weeks after the CEO condemning Trump 's immigration order communications! Have it both ways formerly of Ralph Lauren and Adidas AG mounts on Businessperson of the Constitution of United... Some confusion about what the answer is an increase in shipping costs lived Lutherville. Rival Nike issued a statement from its CEO, Kevin Plank than ever to stay on president... Billion and is the most valuable in the state where the company farm, with 40... Announced Monday evening that he will No longer serve on the president U.S. and other countries Board of,... Quot ; kevin plank political views asset to the business, I have many to take their place actively... Many to take their place kevin plank political views close to Trump isnt good, Plank has struggled with a Trump problem Under... As competition from much larger rivals Nike Inc. and Adidas, looks range from tailored to..., No wants to build things CEO of Under Armour stood for job,! As Lululemon, are also competing with UnderArmour him, `` How that! Monday evening that he will No longer serve on the horns of a polarizing issue apparel brand he a... To make bold decisions and be really decisive. earned $ 3,000, which Plank as. A big business presence in the U.S. and other countries something they needed to do, and a business... Trump ( @ realDonaldTrump ) August 15, 2017 and raised the possibility he would sever ties with the he! Change as do n't align with their views, they will take business!

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