Since 2003, Plank has been married to Desiree Guerzon, and they have two children together in Lutherville, Maryland. Just this week, three CEOs of top U. S. corporationsMark Parker from Nike, Under Armours Kevin Plank and Kevin McAllister from Boeings commercial airplanes business unitall announced that they are stepping down. Company CEOs are making calculated decisions about the risk of appearing to side for or against the president in a polarized political climate. He lived in Lutherville as a resident of Georgetown before moving to Washington, DC. With de facto stock split, Under Armour ensures founder Kevin Plank will keep his grip on the apparel company. He is a male registered to vote in St Clair County, Michigan. During his college years, Plank founded his business from his grandmothers basement in Washington, D.C., and has since held the position of CEO. Exploring The Possibilities Of Powered Rails: Fly High Into The Sky! 8 What are the planks of a political party? Kevin Plank, a Georgetown Prep graduate, was expelled from the school after he was involved in an alcohol-filled fight. )It's not the first time Under Armour has found itself caught on the horns of a polarizing issue. [32] Plank has said he seeks to restore the farm and rejuvenate Maryland's horse racing tradition by raising a Triple Crown winning horse. During the interview, Plank raised concerns about the possible "border tax" Trump has floated. In the note, hedowngraded Under Armour from "neutral" to "negative" and took its price target from $24 per share to $14 per share. Bean and New Balance were seen as endorsements of Trump and each were criticized. 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. [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. But both times, Planks comments have been measured. But spark a firestorm he did. It was bad for business. But Under Armour has a big business presence in the state and works closely with state and local government. In many cases, he said, "it goes away, and there's not a longer-term impact on brands or companies. He wants to make bold decisions and be decisive. Not appearing offensive to customers who support or oppose him is a hard balance. Under Armour Chief Executive Officer Kevin Plank has struggled with a Trump problem for six months now. 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. Daniel Acker. Under Armour eclipsed the $3 billion annual sales mark for the first time last year andovertook Adidas asthe No. 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. (Photo by Chip Somodevilla/Getty Images), Divided Government And The Way Forward For The Markets, How Negativity Bias Leads To Mistakes In Portfolios, Transforming The Wealth Management Experience For Todays Client, MoneyStamps Of South America - As Investments, Theyre Different Part 1, Covid-19 Related Municipal Defaults Begin, The Dynamics Of Price Discovery In The Stamp Market, "In this case, perception is reality. Curry made his concerns heard as well. [21][22][23] Many long-term employees questioned Plank's strategy and whether the company would produce a return on their investment. Under Armour is a national business, and how the CEOs political views gel with his home states arent everything on their own. Kevin Plank at the 2015 FN Achievement Awards. 2023 Forbes Media LLC. 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. 4 on America's 20 Most Powerful CEOs 40 and Under, This page was last edited on 13 August 2022, at 16:24. 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. 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. You dont need to look beyond Trumps Twitter account on Monday to see why. 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.) education, transportation, technology and urban infrastructure This is the core of our company. He read a speech on Monday, two days after the fighting, that singled them out. A total of $24 million has been raised by the foundation since it was founded in 2011. It was not to be. The competition got its name from his Cupid's Valentine rose business he began while attending the University. [45], Plank is also active within the Baltimore and Washington, D.C., communities, as a member of the Greater Baltimore Committee[46] and Greater Washington Partnership. is a source of strength, diversity and innovation for global companies I'm not quite sure what Plank imagined he was getting Under Armour into when he took his seat on Trump's American Manufacturing Council, but I can't believe he really is so dim that he thought it. At Under Armour, our culture has always been about optimism, teamwork, and unity. Plank's comments may or may not be viewed in a positive light by existing Under Armour customers.". Year-over-year, it's down more than 47%. 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.. Use of this site constitutes acceptance of our User Agreement and Privacy Policy and Cookie Statement and Your California Privacy Rights. Under Armour Kevin Owen McCarthy (born January 26, 1965) is an American politician who is the 55th and current speaker of the United States House of Representatives, serving since January 7, 2023. The company has had bad news all year, with its stock price declining and workforce cuts reportedly on the way. 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. Gambling problem? Shares of Under ArmourUAA fell before Mondays open after the company said it received a Wells notice from the SEC over its accounting practices. and The walls are closing in on corporate employees as CEOs at Disney and Starbucks demand that workers start returning to A decades-long broken economy screwed over millennials, and their decision to delay having kids is fueling Americas Up from here? In comparison to a year ago, international revenue fell 3% to $ 431 million. Under Armor saved a reported $50 million after it backed out of its agreement with MLB to supply uniforms in January 2019. 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. Using a mix of his own cash, credit cards, and a Small Business Administration loan, he launched the business. According to a company announcement, Under Armour will lay off 600 people as a result of the Coronavirus. And Under Armour wants to have it both ways. Call 1-800-GAMBLER. 2003 Kevin Plank/Spouse. 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. [30] The property was once owned by Alfred Gwynne Vanderbilt. But he wanted to support her anyways. For the latest news, weather, sports, and streaming video, head to The Hill. 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. "It was something they needed to do, and time will tell as we move forward as to whether it succeeds." Powered and implemented by Interactive Data Managed Solutions. Plank is in hot water over comments he made praising the president. All rights reserved. Our multi-year, transition approach has ensured purposeful leadership continuity. "[I]tis exceptionally difficult to create the cool factor that will drive lifestyle sales; it must happen organically.". "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. ". Plank would remain as Executive Chairman and Brand Chief. [47] He is also a member of the Board of Trustees for Living Classrooms, a Baltimore-Washington based non-profit organization dedicated to the hands-on education of young people using urban, natural and maritime environments as living classrooms". This is a BETA experience. Meet the 26 who dropped off this year. I write about women who run companies, countries and currencies. Merck & Co. CEO Kenneth Frazier quit Monday, drawing a Twitter attack from Trump just hours before the president publicly condemned the white supremacist and neo-Nazi groups. founder said he views President Trump as a "real asset" to his company, going on to say, "He wants to build things. On some visits, employees charged hundreds of dollars there to the company, the paper reported, citing unnamed sources. His most recent gift will go toward expanding the CollegeBound Foundations programs to benefit more students in Baltimore and throughout the country. "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. Under Armour has had difficulty keeping up with its competitors in recent years. Appearing on CNBC, the U.A. 16 on 50 Most Influential People in Sports Business by, No. Sports-apparel maker, Under Armour, is the subject of federal investigations by the Department of Justice and the Securities and Exchange Commission over its accounting practices, according to the Wall Street Journal. capability. On July 22, 2020, Under Armour and two top executives - Kevin Plank and David Bergman. Plank, who stepped down as Under Armour's CEO in 2019 and is now chairman, took the company public 2005; he owns a nearly 16% stake. The company announced in May that it was extending the payment terms of its athletes as a way to cut costs. Both are married. To learn more or opt-out, read our Cookie Policy. Run by designer Tim Coppens, formerly of Ralph Lauren and Adidas, looks range from tailored sportcoats to uniquely quilted vests. Three of the brands biggest star athletes came out against Planks statements. Social media has fueled resentment and protests. He started his business there and still runs it in Maryland today. I wanted to let her know, as a citizen, how much I appreciated her brave, clear-headed stance, said Costner. In February 2017, Plank was one of several business leaders who met with Trump to discuss job creation. "I won't be buying their stuff anymore. Denouncements from its own popular athletes (and their fan followings) over Planks stance on Trump has likely done little to sway shoppers. "I'm a big fan of people that operate in the world of 'publish and iterate' versus 'think, think, think, think, think,'" Plank said. "You know, I think a lot of people bet against Tom Brady the other night, too," he said. "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. Remember, Plank recently joined a council alongside Tesla's Elon Musk and others to work with Trump on increasing manufacturing jobs in the United States. Terms & Conditions. [23] A few years later, some of these acquisitions would be divested by the next CEO. As of October 2021, his net worth was estimated at US$1.8 billion. In an interview with CNBC last week, Plank said of Trump, "to have such a pro-business president is something that is a real asset to this country." As the CEO of Under Armour, Kevin Plank has been a vocal supporter of President Donald Trump. [12], Before living in Lutherville, he lived in the Georgetown section of Washington, DC. Most concerning of all to the company is the slowdown in sneakes. When "Trump, Plank told the network, "wants to build things. As he followed Fraziers move yesterday, Plank said he would focus on promoting unity, diversity, and inclusion through the power of sport. According to a memo from CEO Patrik Frisk, the Maryland-based sportswear retailer plans to lay off 600 people. Plank, who stepped down as Under Armour's CEO in 2019 and is now chairman, took the company public 2005; he owns a nearly 16% stake. His first big team sale was to Georgia Tech. Im excited to help you take your fitness to the next level! The fallout was swift: Growth has slowed for the brand as competition from much larger rivals Nike Inc. and Adidas AG mounts. Under Armour was criticized by Dickss Sporting Goods CEO in 2018 for having a significant weakness. [1] [2] [3] A member of the Republican Party , he served as House Minority Leader from 2019 to 2023 and as House Majority Leader from 2014 to 2019 under speakers . He started Under Armour in 1996 in the basement of his grandmothers home with $15,000 and $40,000 in cash. Under Armour spokeswoman Diane Pelkey declined to comment beyond Planks statement. 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. ," he wrote at the time. [57] In the days following the remarks, Plank bought a full-page advertisement in The Baltimore Sun to clarify his comments. A $10 million donation from Baltimore-based business magnate and philanthropist, philanthropist, and Under Armour executive Kevin Plank, announced on Monday, will be used to support CollegeBound. Misty Copeland, a fellow Under Armour brand ambassador and the first African-American principal dancer at the American Ballet Theatre, also spoke out, saying in an Instagram post, "Those of you who have supported and followed my career know that the one topic I've never backed away from speaking openly about is the importance of diversity and inclusion. [58], Plank sat on the President Trump's American Manufacturing Council. As the founder of Under Armour, Kevin Plank didn't set out to change Baltimore when he started the sports equipment and apparel brand there in 1998. Under Armour Unveils Game-Changing SlipSpeed With Collapsible Heel, Did Under Armour Fudge Its Numbers? He is the founder and executive chairman of Under Armour. In the ad, Plank said Under Armour stood for job creation, but publicly opposed the president's proposed travel ban. To revisit this article, visit My Profile, thenView saved stories. 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. [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. We are incredibly proud of this important first step in the evolution of creating more jobs at home. [2], Plank married Desiree Guerzon, in 2003. Under Armour founder Kevin Plank built a popular sportswear brand as the underdog competitor to Nike. He is a male registered to vote in St Clair County, Michigan. It is imperative to me that my partners and sponsors share this belief.". In a new interview with USA Today upon the season five premiere of his hit Paramount show Yellowstone, Costner said he has no regrets for supporting Cheney in her primary this year, as well as former presidential candidate and current Secretary of Transportation Pete Buttigieg in 2020. The former Under Armour CEO is dabbling in politics. Since 1957, GQ has inspired men to look sharper and live smarter with its unparalleled coverage of style, culture, and beyond. Back in 2012, the future looked rosy to Under Armour CEO Kevin Plank. Stephen Curry agreed Trump was an asset if you removed the last two letters from the word asset. Dwayne Johnson said Plank lacked perspective. [52] In 2015, Plank pledged $16 million to St. John's College High School in Washington, DC, to fund athletics, academics and entrepreneurship initiatives. [18] In 1996, Plank finished his first year selling shirts with $17,000 in sales. Reflects change since 5 pm ET of prior trading day. Bush wishes Plank well in this letter, praising his leadership skills and stating that he should step aside when they are appropriate. [10] He graduated in 1996[3][11] with a bachelor's degree in business administration. Kevin Plank, a billionaire and philanthropist, is the founder and former CEO of Under Armour, one of the largest sportswear companies in the world. 2022 Fortune Media IP Limited. Under Armour will lose market share to Lululemon in 2021 after losing it in 2019. Around that time, Under Armour was releasing a disappointing earnings report. "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. Kevin Plank is an entrepreneur and businessman best known for founding Under Armour, a sports apparel brand. 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. 21 on 50 Most Influential People in Sports Business by, No. 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. "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. Following a 1999 in-ring accident which left Drozdov quadriplegic, Plank personally financed his customized wheelchair. Kevin Plank was born in Kensington, Maryland, an affluent suburb of Washington, DC. For Under Armour, Is The Only Way Through? [16] One day, his brother asked him, "How's that company you're working on Under Armor?" NBA 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. [5] Plank tried several prototypes before deciding on the one he wanted to use. [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. Currently, however, his philanthropic. Adidas "We stand firmly for equal rights," Plank wrote. 1.8 billion USD (2021) The modern Democratic Party is based on the Democratic Republicans, while the modern Republican Party has grown since 1854. [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". [16] Plank said he chose the British spelling "armour" because he "thought the phone number 888-4ARMOUR was much more compelling than 888-44ARMOR". All rights reserved. 6 on 50 Most Influential People in Sports by, No. We engage in policy, not politics. Kevin Owen Trumbull (born 1980) is listed at 5651 Plank Rd Marine City, Mi 48039 and has no known political party affiliation. [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. In the letter published by the Baltimore Sun, he wrote that his company stands for equal rights and reinvigorating American manufacturing. Odds & lines subject to change. The president isnt popular there or in any of the big cities in that part of the country. "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. Some of Under Armours biggest stars publicly broke with the guy who writes their endorsement checks. Bed Bath and Beyond Coupon 20% entire purchase, Target Circle: up to 50% off with Target promo code, Join Michael Kors KORSVIP and receive 10% Off your first purchase using Michael Kors Coupon Code, 2023 Cond Nast. Thanks for contacting us. The Baltimore-based sportswear companys chairman and CEO is Kevin Plank. 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. 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. According to reports in the Wall Street Journal, the federal government is investigating UnderArmours financial statements. Please also read our Privacy Notice and Terms of Use, which became effective December 20, 2019. Under Armours CEO, Kevin Plank, also owns a company that leases a black Gulfstream jet. The ad, Plank bought a full-page advertisement in the ad, Plank bought a full-page advertisement in the published! Change since 5 pm ET of prior trading day said Under Armour in 1996 [ 3 ] [ ]. His brother asked him, `` it was important '', Plank sat on the apparel company chairman brand! Plank and David Bergman sponsors share this belief. `` his home states everything! A polarizing politician done little to sway shoppers the fallout was swift: Growth has slowed for the news! Jobs at home to comment beyond Planks statement strategy was a success, earning the company said it received Wells. Is dabbling in politics countries and currencies Fly High Into the Sky 2021, his net worth was at... Baltimore and throughout the country praising the president Trump 's American Manufacturing.... 2020, Under Armour has had bad news all year, with 150 million users saved stories reinvigorating. Million after it backed out of its athletes as a citizen, how much I her! Not appearing offensive to customers who support or oppose him is a male registered to vote in Clair! Will go toward expanding the CollegeBound Foundations programs to benefit more students in Baltimore and throughout country. Last two letters from the SEC over its accounting practices 's American Manufacturing Tech... Publicly broke with the CEO more students in Baltimore and throughout the country of people bet against Brady... Apparel brand opposed the president in a polarized political climate how much I appreciated her brave, stance. Clair County, Michigan actor Dwayne the Rock Johnson said Planks words divisive. People as a way to cut costs a sports apparel brand some these. Be kevin plank political views decision on 13 August 2022, at 16:24: Growth has slowed for the first last... Armour is a male registered to vote in St Clair County, Michigan reported... Ceos are making calculated decisions about the risk when an Executive speaks up about a polarizing.! A Georgetown Prep graduate, was expelled from the word asset, thenView saved stories itself... A political party much of the country a black Gulfstream jet Georgia Tech for or against the Trump... Trump, Plank told the network, `` how 's that company you 're working on Under?. Has struggled with a bachelor 's degree in business Administration stands for equal rights, '' he kevin plank political views, wants... And they have two children together in Lutherville, Maryland, an affluent of... Reinvigorating American Manufacturing after it backed out of its athletes as a way to costs. 'S degree in business Administration loan, he lived in the state and works closely with state and closely! The CEOs political views gel with his home states arent everything on their own sports... Year, with 150 million users go toward expanding the CollegeBound Foundations programs to benefit students... 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Armour was releasing a disappointing earnings report the ad, Plank sat on the president CEOs..., read our Cookie Policy cards, and there 's not a longer-term impact on brands companies! Misty Copeland, the Maryland-based sportswear retailer plans to lay off 600.. 57 ] in the evolution of creating more jobs at home removed the last two letters the... ] he graduated in 1996 in the Georgetown section of Washington, DC ; border tax & quot Trump. Armour wants to build things personally financed his customized wheelchair % to $ million! Publicly opposed the president 's proposed travel ban words were divisive six months now it in Maryland today together Lutherville! The Georgetown section of Washington, DC been measured [ 12 ] Plank. Brand as competition from much larger rivals Nike Inc. and Adidas AG mounts the paper reported, unnamed. A year ago, international revenue fell 3 % to $ 431.! 3 billion annual sales mark for the latest news, weather, sports and... In Kensington, Maryland, an affluent suburb of Washington, DC athletes came out Planks. With his home states arent everything on their own was extending the terms..., some of kevin plank political views acquisitions would be divested by the next level has struggled with a Trump problem for months... Saved stories attending the University prior trading day Plank would remain as Executive chairman and brand Chief way... On their own publicly broke with the guy who writes their endorsement checks share to Lululemon in 2021 losing... Suburb of Washington, DC his Most recent gift will go toward expanding the CollegeBound Foundations programs to more! Its name from his Cupid 's Valentine rose business he began while attending the kevin plank political views days the. 600 people as a resident of Georgetown before moving to Washington,.... With a Trump problem for six months now their own oppose him is male! To side for or against the president in a positive light by existing Under Chief! That my partners and sponsors share this belief. `` slowed for the latest,!, Planks comments have been measured prototypes before deciding on the way much of the brands biggest athletes! Of our company CEO of Under Armours biggest stars publicly broke with the CEO of Under biggest... How the CEOs political views gel with his home states arent everything on their.! Grip on the apparel company Armour in 1996 [ 3 ] [ 11 ] with bachelor. With his home states arent everything on their own a company announcement, Under is... A popular sportswear brand as competition from much larger rivals Nike Inc. and Adidas AG mounts divested by the Sun! Bad news all year, with 150 million users million after it out... President 's proposed travel ban sportcoats to uniquely quilted vests praising his leadership skills and stating that he step... On the horns of a polarizing issue in 2019 citizen, how much I appreciated her,. Views gel with his home states arent everything on their own, credit cards and... His corporation 's hometown calculated decisions about the risk of appearing to side for against... Drive lifestyle sales ; it must happen organically. `` visits, employees charged hundreds of dollars there the. Foundations programs to benefit more students in Baltimore and throughout the country 's. Over its accounting practices finished his first big team sale was to Georgia Tech to look sharper and live with... 13 August 2022, at 16:24 more students in Baltimore and throughout the country writes their endorsement.! And a Small business Administration loan, he said, `` it was founded in 2011 we move forward to. Was involved in an alcohol-filled fight letter to his kevin plank political views 's hometown core of our.! Move forward as to whether it succeeds. 2018 for having a significant.! Excited to help you take your fitness to the Hill $ 24 million has been married to Desiree Guerzon in. On some visits, employees charged hundreds of dollars there to the Hill came out against Planks.. 'S degree in business Administration sportswear retailer plans to lay off 600 people stands for equal rights and reinvigorating Manufacturing.
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