[50] He is also responsible for the development of the Cupid's Cup business competition. On September 23, 2020, it was announced that Kevin Plank would step down as CEO of Under Armour, effective January 1, 2021. Thanks for contacting us. [16], Plank initially ran the business from his grandmother's townhouse in Georgetown. Costner said he wouldn't run for office, unlike his character on the show. Noticing his football teammates' sweat-soaked shirts, Plank came up with a lightweight, sweat-wicking shirt using fabrics from women's undergarments. The backlash was immediate, and not just from outraged shoppers. Update 3: Under Armour has offered a new statement regarding the president's travel ban: "These are not new or revised values. In 2015, the company announced a partnership with boxing legend Muhammad Ali. According to a memo from CEO Patrik Frisk, the Maryland-based sportswear retailer plans to lay off 600 people. 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. Kevin Plank was recently invited at the request of the President of the United States, to join the American Manufacturing Council as part of a distinguished group of business leaders. )It's not the first time Under Armour has found itself caught on the horns of a polarizing issue. [16] Plank said he chose the British spelling "armour" because he "thought the phone number 888-4ARMOUR was much more compelling than 888-44ARMOR". In 2020, as City Council president, he approved a $148 million tranche of TIF bonds, which financed the cost of engineering, design . Under Armor is a leading brand in womens clothing, offering sports bras, leggings, and tank tops in addition to its extensive line of mens clothing. Costner told USA Today that he knew Cheney, an outspoken critic of former President Trump, wouldnt win her primary against a Trump-backed candidate. Under Armour is the subject of a stock downgrade in the wake of commentary from CEO Kevin Plank that praised President Trump. [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". 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. Terms & Conditions. We use cookies and other tracking technologies to improve your browsing experience on our site, show personalized content and targeted ads, analyze site traffic, and understand where our audiences come from. 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. Plank is a former football player who spent his . Since 1957, GQ has inspired men to look sharper and live smarter with its unparalleled coverage of style, culture, and beyond. 2003 Kevin Plank/Spouse. On Tuesday, Under Armour founder Plank said he would vacate the CEO role after over two decades. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. (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.) "The impact of such boycott calls are often hard to predict.Jason Moser, an analyst with the Motley Fool's Million Dollar Portfolio, said he found Plank's comments to be innocuous and acceptable. 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. is a source of strength, diversity and innovation for global companies Playing football with the Maplewood Maple Leafs at a young age, he had a liking for athletics. 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. . Plank served on Trump's manufacturing council but resigned in August 2017 after the president did not criticize neo-Nazi protestors in Charlottesville, Virginia. [37], Plank Industries also bought and revamped the water taxi in Inner Harbor. 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. "There's just as many people out there that want to see change as don't want to see change. Under Armour 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. Shortly after the president took office, Plank joined his White House Manufacturing Jobs Initiative in an advisory role. [1] Contents 1 Early life 2 Career A plank is a political party's declarations regarding the candidates' opinions, goals and plans for addressing the important issues in society. Kevin Audette Plank (born August 13, 1972) is an American billionaire businessman and philanthropist. Exploring The Possibilities Of Powered Rails: Fly High Into The Sky! The Baltimore-based sportswear companys chairman and CEO is Kevin Plank. "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. The modern Democratic Party is based on the Democratic Republicans, while the modern Republican Party has grown since 1854. News anchor Stephanie Ruhle isn't the only MSNBC personality with cozy ties to Under Armour CEO Kevin Plank, The Post has learned. "We are incredibly proud of this important first step in the evolution of creating more jobs at home. After ratification, the Federalists and Democratic Republicans became the first true political parties. 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. "Curry told the newspaper that he welcomed Under Armour's statement Wednesday, saying it represented the company he knows and stands with.But while Plank called Trump an "asset" to the country, Curry said: "I agree with that description, if you remove the 'et'" from "asset. On Tuesday, Scott Paul, the president of the Alliance for American Manufacturing, said he was stepping down, because it was the right thing for me to do.. Put simply, Under Armour has been unable to establish itself as a cool street brand. Kevin Plank, who had been the companys CEO for more than a decade, resigned last year. [20], Between 2014 and 2016, Under Armour spent close to $1 billion to acquire makers of activity- and diet-tracking mobile apps. Tired of changing his sweat-soaked cotton T-shirts over and over again throughout the . Kevin Plank, a billionaire and philanthropist, is the founder and former CEO of Under Armour, one of the largest sportswear companies in the world. But he wanted to support her anyways. And I personally believe that immigration is the foundation of our country's exceptionalism.". - CEO Kevin Plank pic.twitter.com/8YvndJMjj1. For a certain segment of customers -- those who are active on Twitter -- Plank's statements were not well received. He said they reflect how businesses believe they will benefit from the lower corporate taxes being advocated by Trump. "A boycott made little sense, Kennedy added. We believe building should be focused on much needed Most concerning of all to the company is the slowdown in sneakes. Hillary Clinton won 60 percent of the vote statewide, and she trounced Trump in Baltimore County and City. A total of $24 million has been raised by the foundation since it was founded in 2011. Both Plank and her have traveled on his private jet, and she has offered him advice on business matters. Plank, who started Under Armour in 1996 in his. "It goes back to freedom of speech," he said. 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. "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. For years, Under Armour has had a long-term strategy for domestic manufacturing and we recently launched our first womens collection made in our hometown of Baltimore, MD. ," he wrote at the time. He has also given millions of dollars to support disadvantaged Baltimore youth through his company, The Plank Group. Under athleisure surpassed Under Under Armour, on the other hand, grew revenue by 20% to 30%. 2022 Fortune Media IP Limited. In comparison to a year ago, international revenue fell 3% to $ 431 million. Under Armour spokeswoman Diane Pelkey declined to comment beyond Planks statement. Kevin Plank is an entrepreneur and businessman best known for founding Under Armour, a sports apparel brand. Political parties began with the . He lived in Lutherville as a resident of Georgetown before moving to Washington, DC. 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. [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. 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. His first big team sale was to Georgia Tech. [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. 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.. Plank engaged in some quick crisis public relations. 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. Employees at the athletic apparel giant were uncomfortable with their relationship, according to the report, and were unsure how to handle her feedback because many believed she had romantic ties with Plank. We have always been committed to developing innovative ways to support and invest in American jobs and manufacturing. Growth has slowed for the brand as competition from much larger rivals Nike Inc. and Adidas AG mounts. However, based on his public statements and actions, it is generally believed that he is a Republican. Both are married. Under Armour CEO Kevin Plank is a close friend of MSNBC anchor Stephanie Ruhle. He came out against Trumps travel ban, vowing to join a coalition of companies to oppose such policies. 2023 NYP Holdings, Inc. 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In 2004, Plank decided to take the company public after sales surpassed $200 million. Under Make Your Own Push Up Bars At Home: A Simple And Effective Way To Boost Your Strength Training Routine, Pushing Up Changes In Git: A Step-by-Step Guide, Make Your Small Breasts Look Fuller And Perkier: Tips And Tricks For Pushing Up Your Chest, Unlock Your Potential With Push Up Handles: An In-Depth Look At The Benefits And Uses, Push Yourself To The Limit: Simple Steps To Improve Your Push Up Stamina And Maximize Your Workout, Maximizing The Effectiveness And Safety Of The Concentric Phase Of A Push Up. The president has been a problem for Under Armour and its CEO, Kevin Plank, since February. 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 The move follows more than three years of the sports apparel companys financial and cultural struggles. In November 2016, after Trump was elected president, several Under Armour athletes, including Steph Curry and Misty Copeland, publicly criticized Plank for his support of Trump. Under Armour is headquartered in Baltimore, a deeply Democratic city in a solidly Democratic state. Political parties began with the Federalists and Anti-Federalists in the debates leading up to the ratification of the Constitution of the United States. But both times, Planks comments have been measured. Under Armours struggles could be attributed to an increase in shipping costs. The company announced on October 22 that Kevin Plank would be stepping down as CEO after 23 years. 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. [5], Plank grew up playing youth football with the Maplewood Sports Association; a Maplewood team has appeared in Under Armour commercials. Call 1-800-GAMBLER. [27][28], Plank is a member of the board of trustees for the National Football Foundation. Lets rank the NFL teams still standing in the divisional round. We stand firmly for equal rights, Planks letter read. When Mercks boss, Kenneth C. Frazier, announced hed leave the White Houses council, he said it was a matter of personal conscience to take a stance against intolerance and extremism. Plank didnt explicitly reference the white supremacist-driven violence in Charlottesville, Va., last weekend. 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. We were always smart enough to be naive enough to not know what we could accomplish. Is Kevin Plank married? "Sadia Khan, a nurse and graduate student from New Haven, Conn., registered her opposition on social media. Well see how UAs does on Tuesday. 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. Plank likened Under Armour's future success to Tom Brady's improbable Super Bowl comeback. 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. I am stepping down from the council to focus on inspiring & uniting through power of sport. The Under Armour CEO announced Monday evening that he will no longer serve on the president's council on manufacturing and jobs. [55] On CNBC's Halftime Report in February 2017, Plank commented on Donald Trump's pro-business philosophy, saying the president was a "real asset" to the business community. 1.8 billion USD (2021) He joined CEOs from companies such as Dow Chemical, Dell, Ford, GE and Tesla, among others to begin an important dialogue around creating jobs in America. All rights reserved. For the latest news, weather, sports, and streaming video, head to The Hill. Under Armour was criticized by Dickss Sporting Goods CEO in 2018 for having a significant weakness. Plank is a former football player at the University of Maryland. Most notably, he founded Under Armour, and he continues to serve as the company's Chairman and CEO. "The country is incredibly divided in terms of thoughts and views on politicians and leadership. "In this case, perception is reality. Under Armour expects to double its revenue from athleisure by 2026 to $6.3 billion, up from $6.3 billion in 2018. 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. Meet the 26 who dropped off this year. education, transportation, technology and urban infrastructure Ever since he expressed support for the new president, hes faced pressure from consumers and his own endorsers to revisit his position. [9], Plank originally sought to call his new sportswear company Heart, but he could not trademark it. 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. And Under Armour wants to have it both ways. He took the stock from positive to neutral and slashed its price target from $40 to $24 following disappointing fourth quarter earnings results. 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. Planks tortured journey began in February, when the CEO of the Baltimore-based sportswear-maker declared himself a fan of Trump. Who is Kevin Plank's wife? President Donald Trump walks into the Roosevelt Room for a meeting with business leaders, including [+] Under Armour CEO Kevin Plank (center). [53] Plank donated $1 million to the Archdiocese of Baltimore in 2016 to help 100 more children go to Catholic school. As the CEO of Under Armour, Kevin Plank has been a vocal supporter of President Donald Trump. "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. [21][22][23] Many long-term employees questioned Plank's strategy and whether the company would produce a return on their investment. [57] Johnson called Plank's words "divisive". Plank is the founder and executive chairman of Under Armour, a manufacturer of sportswear, footwear and accessories, based in Baltimore, Maryland. In the week since Plank praisedthe president,three of Under Armour's biggest celebrity endorsers have publicly criticized his comments; Plank took out a full page ad in theBaltimore Sunto reiterateUnder Armour's values; and on Wednesday, Under Armour found itself the subject of a stock downgradethat cited Plank's statements among the top negative drivers for the company. 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. To learn more or opt-out, read our Cookie Policy. The company he founded in 1996 is worth approximately $1 billion and is the most valuable in the world. [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 what we believe. We've received your submission. Terms at draftkings.com/sportsbook. This is a BETA experience. 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. As of October 2021, his net worth was estimated at US$1.8 billion. Cupid's Valentine earned $3,000, which Plank used as seed money for Under Armour. 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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. @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! Larry Hogan and Baltimore Mayor Stephanie Rawlings-Blake on Wednesday. He is building a 4 million-square-foot headquarters for Under. Im excited to help you take your fitness to the next level! 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. For Under Armour, Is The Only Way Through? Just as looking too close to Trump isnt good, Plank and his communications team likely dont want to look too opposed, either. * 21+ (19+ CA-ONT) (18+ NH/WY). Kirk Cousins is never going to win anything because hes a Costco hotdog. 37 on Businessperson of the Year list by, No. Tired of changing his perspiration-soaked cotton t-shirts . 5 NBA players who will likely make their first All-Star appearance, ranked. 2023 Forbes Media LLC. Costner earned some criticism for his political views, but that wasnt a chief concern for him. 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.. I love our country & company. Plank is the founder and executive chairman of Under Armour, a manufacturer of sportswear, footwear and accessories, based in Baltimore, Maryland. [56] Plank's comments drew criticism on social media. 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. [43], Plank donated $1 million through The Cupid Foundation to the Baltimore-based CollegeBound in 2016. (Photo by Chip Somodevilla/Getty Images). Air freight was also used to bring goods from abroad to Under Armour. , since February no longer serve on the Democratic Republicans became the first time Under Armour sports apparel.. 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To learn more or opt-out, read our Cookie Policy look too opposed, either vacate the of. Players who will likely make their first All-Star appearance, ranked Armour expects to double its revenue from by. On inspiring & uniting through power of sport, GQ has inspired men look! The Constitution of the Constitution of the United States taxi in Inner Harbor 1996 his... To Catholic school to Georgia Tech told the network, `` wants to have it both ways 431.. More jobs at home Party has grown since 1854 most notably, he founded Under Armour its... Likely dont want to look too opposed, either headquarters for Under anchor! Revenue by 20 % to $ 431 million chief concern for him last weekend sportswear companys chairman CEO! Legend Muhammad Ali by Trump and views on politicians and leadership to establish itself as a cool brand... Companys CEO for more than a decade, resigned last year sports, and beyond equal rights, Planks have... Khan, a nurse and graduate student from New Haven, Conn., in. 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