On September 23, 2020, it was announced that Kevin Plank would step down as CEO of Under Armour, effective January 1, 2021. Wayfair Huge Deal-A-Thon - Up to 60% off everything! 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. Plank engaged in some quick crisis public relations. Kevin Plank, the CEO of Under Armour, will step down but continue to serve as the brands executive chairman and CEO. 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 believe in advocating for fair trade, an inclusive immigration policy that welcomes the best and the brightest and those seeking opportunity in the great tradition of our country, and tax reform that drives hiring to help create new jobs globally, across America and in Baltimore. Six months after finding himself in hot water over comments about President Trump, Kevin Plank has disentangled himself from White House politics. 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. Most concerning of all to the company is the slowdown in sneakes. There appears to be some confusion about what the answer is. Bean and New Balance were seen as endorsements of Trump and each were criticized. The Under Armour CEO announced Monday evening that he will no longer serve on the president's council on manufacturing and jobs. 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. To revisit this article, select My Account, thenView saved stories, 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. (Paramount) We've received your submission. He took the stock from positive to neutral and slashed its price target from $40 to $24 following disappointing fourth quarter earnings results. Shares of Under ArmourUAA fell before Mondays open after the company said it received a Wells notice from the SEC over its accounting practices. Ad Choices, Under Armour Just Endorsed President Donald Trump (Update), The 2023 Critics Choice Awards Was Chock-Full of Stone-Cold (and Coldstone), Drake Used His New Video to Reveal Himself As the Proud Owner of Pharrell's Iconic Jewelry, Every Piece of Menswear You Should Own in 2023, Up Next: Dads React to Under Amour's Steph Curry Sneakers, Kevin Abstract Talks New Album and Life After Brockhampton at the Prada Show, Seth Rogen Accessorized His Great Outfit With Yet Another Great Outfit, The Best Workout Shirts to Keep You Looking Sharp and Smelling Tolerable, The Most Chaotic Congress in Memory Is Pure Style Chaos, Too. Costner told USA Today that he knew Cheney, an outspoken critic of former President Trump, wouldnt win her primary against a Trump-backed candidate. [40] Its first bottles were sold at stores in 2016. "[I]tis exceptionally difficult to create the cool factor that will drive lifestyle sales; it must happen organically.". Through our investment, hiring and in everything we do, we expect to be leaders in the advancement of all forms of diversity and gender.. @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! 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.) "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. Exploring The Possibilities Of Powered Rails: Fly High Into The Sky! [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". founder said he views President Trump as a "real asset" to his company, going on to say, "He wants to build things. [31] The farm was the home to stallion Native Dancer, who went 21 for 22 during his racing career from 1952 to 1954. Kevin Plank. The company announced on October 22 that Kevin Plank would be stepping down as CEO after 23 years. Patrik is the right person to serve as Under Armours next CEO, said Plank. All rights reserved. "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. Desiree Jacqueline Guerzonm. Kevin Plank was born in Kensington, Maryland, an affluent suburb of Washington, DC. [27][28], Plank is a member of the board of trustees for the National Football Foundation. 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. [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. 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. "What the CEO said reflects where they stand on the issues, and I don't think that statement addresses that," said Khan, 29. According to the companys statement Friday, it expects revenue to grow between 5% and 7% in the fiscal year that ends in March. The president has been a problem for Under Armour and its CEO, Kevin Plank, since February. We engage in policy, not politics. 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.. In an interview on CNBC, he praised the president as. In an interview with CNBC in April 2017, Plank praised Trumps pro-business agenda, saying that the president was a real asset to the country. Since 1957, GQ has inspired men to look sharper and live smarter with its unparalleled coverage of style, culture, and beyond. Plank's comments may or may not be viewed in a positive light by existing Under Armour customers.". A plank is a political partys declarations regarding the candidates opinions, goals and plans for addressing the important issues in society. Meanwhile, Nike, Asics, and Adidas all issued statements against the president's travel ban last week, but Under Armour did not. The jiggle-joint jaunts were just one example of a history of hostile behavior toward women at the company under Plank, according to the explosive article. Plank had said in an interview on CNBC that Trump was "an asset to the country." 4. 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. Within 24 hours, the hashtag had been tweeted a little more than 1,500 times, according to Keyhole, a hashtag tracker for Twitter.That's a fraction of the nearly 140,000 #deleteUber tweets that appeared by 3 p.m. Jan. 29 after that social media campaign began the evening before, Keyhole data shows.Still Under Armour sought Wednesday morning to mitigate any fallout by issuing its statement. 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. JOBS! Under Armour CEO Kevin Plank is leaving President Donald Trumps American Manufacturing Council, his company announced Monday. [37], Plank Industries also bought and revamped the water taxi in Inner Harbor. Is Kevin Plank married? However, based on his public statements and actions, it is generally believed that he is a Republican. In the note, hedowngraded Under Armour from "neutral" to "negative" and took its price target from $24 per share to $14 per share. (Trump also praised L.L. 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. "So there's a lot that I respect there.". 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. [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. 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. And I personally believe that immigration is the foundation of our country's exceptionalism.". According to reports in the Wall Street Journal, the federal government is investigating UnderArmours financial statements. It wants to have a close relationship with the current administration to advocate for issues that are . Earlier, L.L. Not appearing offensive to customers who support or oppose him is a hard balance. [52] In 2015, Plank pledged $16 million to St. John's College High School in Washington, DC, to fund athletics, academics and entrepreneurship initiatives. I personally believe that immigration is the foundation of our countrys exceptionalism, wrote Plank. "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.". 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. "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 American businessman, entrepreneur, and philanthropist. Political parties began with the . Odds & lines subject to change. 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. [44] The next year, his charitable arm funded 40 summer jobs for Cherry Hill, Baltimore, public school students in the maritime transport industry. (Photo by Chip Somodevilla/Getty Images). 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. [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". "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. [11] Under Armour's first shirt was the #0037, which Plank sold from his car. 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. [5] Plank tried several prototypes before deciding on the one he wanted to use. In the ad, Plank said Under Armour stood for job creation, but publicly opposed the president's proposed travel ban. Under Armour has had difficulty keeping up with its competitors in recent years. Planks praise of Trump didnt play well at home. 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. 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. He started Under Armour in 1996 in the basement of his grandmothers home with $15,000 and $40,000 in cash. Still, he remained on the advisory board. [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. By taking a stance either way, you run the risk of alienating a major segment of your customers. The decision comes hours after the CEO of pharmaceutical giant Merck announced hed do the same. Appearing on CNBC, the U.A. [3] He continued to use the "Cupid" name when he later launched his Cupid's Cup competition. 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. "Similar to Under Armour, Lululemon had already been suffering from operational issues before Mr. Wilson's comments, but the subsequent reputational damage made Lulu's overall problems significantly worse," Poser said. Plank's tortured journey began in February, when the CEO of the Baltimore-based sportswear-maker declared himself a fan of Trump. 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. 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. On Tuesday, Under Armour founder Plank said he would vacate the CEO role after over two decades. Last summer, the company cut ties with a sponsored hunter whose husband had videoed himself spearing a baited bear in Canada.While animal advocates deplored the hunt, many in the hunting community took issue with Under Armour's decision to no longer sponsor the hunter.Politics may prove much more polarizing. "We have engaged with both the prior and the current administrations in advocating on business issues that we believe are in the best interests of our consumers, teammates, and shareholders," the statement said.The company, the statement said, seeks fair trade, tax reform and an "inclusive immigration policy that welcomes the best and the brightest and those seeking opportunity in the great tradition of our country. "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. After the company announced Monday evening that he is a Republican for Under Armour has had difficulty up! 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