The concept for Under Armour was based on Plank's personal experience playing college football. Given the nation's divisions, it's risky for heads of companies to even appear to take sides in political or policy-related matters, marketing experts say. Costner earned some criticism for his political views, but that wasnt a chief concern for him. 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. Still, he remained on the advisory board. But this is hardly his only problem. Desiree Jacqueline Guerzonm. Following his resignation from Underarm, Kevin Plank received a personal note from George W. Bush. Stephen Curry agreed Trump was an asset if you removed the last two letters from the word asset. Dwayne Johnson said Plank lacked perspective. capability. [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. Planks tortured journey began in February, when the CEO of the Baltimore-based sportswear-maker declared himself a fan of Trump. [51], In November 2014, Plank pledged $25 million to the University of Maryland to be used for the proposed athletics and academic complex. When Cupid's Valentine earned $3,000, which Plank used as seed money for Under Armour. I personally believe that immigration is the foundation of our countrys exceptionalism, wrote Plank. Please also read our Privacy Notice and Terms of Use, which became effective December 20, 2019. "I'm a big fan of people that operate in the world of 'publish and iterate' versus 'think, think, think, think, think,'" Plank said. The panel, focused on developing innovative ways to support American manufacturing, includes top executives from Ford Motor Co., Dell Technologies and Johnson & Johnson. His father was a land developer in Virginia, and his mother, the once mayor of Kensington, worked for the Department of State during the administration of President . For the latest news, weather, sports, and streaming video, head to The Hill. By joining other CEOs in quitting a White House advisory council, he may have hoped his company would finally be free of the controversy. [34] There are about 100 horses on Sagamore farm, with about 40 actively training as of July 2017. [30] The property was once owned by Alfred Gwynne Vanderbilt. Color-blocked long sleeve shirts, stretch bombers, and polos are all sleek and fitted, a performance version of the baggier silhouettes often seen in streetwear.Under Armour fell 4.5 percent to $17.99 at 1:05 p.m. in New York. Kevin Plank. I love our country & company. [18] In 1996, Plank finished his first year selling shirts with $17,000 in sales. The company announced on October 22 that Kevin Plank would be stepping down as CEO after 23 years. He is building a 4 million-square-foot headquarters for Under Armour in Baltimore as part of a larger development called Port Covington. 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. Costner told USA Today that he knew Cheney, an outspoken critic of former President Trump, wouldnt win her primary against a Trump-backed candidate. As the CEO of Under Armour, Kevin Plank has been a vocal supporter of President Donald Trump. Plank continued to pile on the praise of Trump's abilities saying, "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.". 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. 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He is a male registered to vote in St Clair County, Michigan. "We believe that immigration is a source of strength, diversity and innovation for global companies based in America like Under Armour. "Plank was out of town and unavailable to be interviewed on Wednesday, the company said.Immigration has been a hot-button topic since Trump's executive order to suspend refugee admissions and temporarily bar visitors from seven mostly Muslim countries. 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? 21 on 50 Most Influential People in Sports Business by, No. This is a BETA experience. [37] The company had acquired approximately 235 acres in the area[36] and planned to build a mix of offices, residential areas, retail space, parks, boat launches and more. [9][10] He was not recruited by the top-tier collegiate football programs. 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. [53] Plank donated $1 million to the Archdiocese of Baltimore in 2016 to help 100 more children go to Catholic school. President Donald Trump walks into the Roosevelt Room for a meeting with business leaders, including [+] Under Armour CEO Kevin Plank (center). Adidas The backlash was immediate, and not just from outraged shoppers. [16] Plank said he chose the British spelling "armour" because he "thought the phone number 888-4ARMOUR was much more compelling than 888-44ARMOR". 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. [31] The farm was the home to stallion Native Dancer, who went 21 for 22 during his racing career from 1952 to 1954. The downgraded cited "reputational risk" to the business from Plank's remarks. Basketball superstar Stephen CurryUnder Armours prized sneaker pitchmanmocked Trump and raised the possibility he would sever ties with the company. Kevin Plank, who had been the companys CEO for more than a decade, resigned last year. 2 athletic apparel brand in the U.S. behind Nike. Shoe sales are suddenly headed in the wrong direction after years of growth, as the company reported a 2 percent decline in footwear sales to $237 million last quarter, compared with a 58 percent increase in the same period the year prior. In an interview with CNBC in April 2017, Plank praised Trump's pro-business agenda, saying that the president was "a real asset" to the country. Kirk Cousins is never going to win anything because hes a Costco hotdog. (Trump also praised L.L. FORTUNE may receive compensation for some links to products and services on this website. 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. 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. 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. And Under Armour wants to have it both ways. The 46-year-old Plank is also tight with former MSNBC. Air freight was also used to bring goods from abroad to Under Armour. The Under Armour founder discusses early lessons and pivotal decisions. [40], Plank renovated the former Recreation Pier building in Fells Point, Baltimore. Use of this site constitutes acceptance of our User Agreement and Privacy Policy and Cookie Statement and Your California Privacy Rights. This time, though, he had the cover of other CEOs hitting the eject button. [5], Plank grew up playing youth football with the Maplewood Sports Association; a Maplewood team has appeared in Under Armour commercials. Kevin Plank, the CEO of Under Armour, has resigned from the company. Meanwhile, Nike, Asics, and Adidas all issued statements against the president's travel ban last week, but Under Armour did not. Bean in return on Twitter.) 2022 Fortune Media IP Limited. To revisit this article, visit My Profile, thenView saved stories. 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." [24], As CEO, Plank oversaw a company that generated US$5 billion in annual revenue and employed about 15,800 people as of December 31, 2017. Despite the backlash, Plank has remained supportive of Trump, saying that he believes the president is a real asset to the country.. 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. It is imperative to me that my partners and sponsors share this belief.". 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. Plank's tortured journey began in February, when the CEO of the Baltimore-based sportswear-maker declared himself a fan of Trump. Scott originally backed the plan and its $660 million in TIF benefits as a councilman from the Eastside's impoverished 2nd District. [33][32] On November 5, 2010, Sagamore Farms' Shared Account won the $2 million Breeders' Cup Filly & Mare Turf (GI). Bean and New Balance were seen as endorsements of Trump and each were criticized. As of October 2021, his net worth was estimated at US$1.8 billion. Put simply, Under Armour has been unable to establish itself as a cool street brand. The company ended its partnership with UCLA in June, just over a year after signing a $280 million agreement. We were always smart enough to be naive enough to not know what we could accomplish. "We stand firmly for equal rights," Plank wrote. He is a male registered to vote in St Clair County, Michigan. Plank, who has been chief executive since he founded the company in 1996, will relinquish the helm at the beginning of next year. 37 on Businessperson of the Year list by, No. Plank likened Under Armour's future success to Tom Brady's improbable Super Bowl comeback. Political parties began with the . We have always been committed to developing innovative ways to support and invest in American jobs and manufacturing. Since joining Under Armour, 56-year-old Frisk has played a main role in the companys turnaround plan. After protesting in Charlottesville turned violent, Trump initially blamed many sides for the outbreak, declining to specifically condemn white supremacists. "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. Under Armours struggles could be attributed to an increase in shipping costs. I write about women who run companies, countries and currencies. He came out against Trumps travel ban, vowing to join a coalition of companies to oppose such policies. "Commentary by CEO Kevin Plank in a polarized political climate and the pointed response by Stephen Curry make it nearly impossible to effectively build a cool urban lifestyle brand in the foreseeable future," Poser wrote in a research note Wednesday. Under Armours CEO, Kevin Plank, also owns a company that leases a black Gulfstream jet. In the letter published by the Baltimore Sun, he wrote that his company stands for equal rights and reinvigorating American manufacturing. 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 rival Nike issued a statement from its CEO last week condemning Trump's immigration order. In 2020, as City Council president, he approved a $148 million tranche of TIF bonds, which financed the cost of engineering, design . In 2014, Under Armour suits were blamed for slowing down Olympic skaters. 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. 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.) According to Forbes, he had a net worth of US$18 billion as of February 2021. [5], A turning point for him came late in 1999, when Plank used nearly all of Under Armour's money, and employees agreed to go without pay for a few weeks, so the company could take out a $25,000 advertisement in ESPN The Magazine. "We are incredibly proud of this important first step in the evolution of creating more jobs at home. Political parties began with the Federalists and Anti-Federalists in the debates leading up to the ratification of the Constitution of the United States. Put simply, Under Armour has been unable to establish itself as a cool street brand. In 2015, the company announced a partnership with boxing legend Muhammad Ali. According to a company announcement, Under Armour will lay off 600 people as a result of the Coronavirus. (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.) Ever since he expressed support for the new president, hes faced pressure from consumers and his own endorsers to revisit his position. 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. Kevin Plank is an entrepreneur and businessman best known for founding Under Armour, a sports apparel brand. Plank would remain as Executive Chairman and Brand Chief. 2023 Forbes Media LLC. But if Trump were to start tweeting about Nikes superiority to his brand, Plank might not like that, either. As some customers vowed to boycott the brand, three major endorsersStephen Curry, ballerina Misty Copeland, and actor Dwayne "The Rock" Johnsonwent on Twitter to express their opposition. 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. [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. Plank is the founder and executive chairman of Under Armour, a manufacturer of sportswear, footwear and accessories, based in Baltimore, Maryland. Shortly after the president took office, Plank joined his White House Manufacturing Jobs Initiative in an advisory role. 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. [37], Plank Industries also bought and revamped the water taxi in Inner Harbor. Terms & Conditions. 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 Trumps proposed (and since partially enacted) travel ban on visitors from some Muslim-majority countries, because it might affect his workforce. 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. [15] After graduating from Maryland, Plank searched for synthetic materials that would keep athletes dry. But Under Armour has a big business presence in the state and works closely with state and local government. The competition got its name from his Cupid's Valentine rose business he began while attending the University. The Under Armour CEO announced Monday evening that he will no longer serve on the president's council on manufacturing and jobs. 2023 NYP Holdings, Inc. 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Under Armour is headquartered in Baltimore, a deeply Democratic city in a solidly Democratic state. Plank is a former football player at the University of Maryland. @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! 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. Then a Wall Street analyst downgraded the company. 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 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. Currently, however, his philanthropic. [10] He graduated in 1996[3][11] with a bachelor's degree in business administration. Under Armour CEO Kevin Plank is leaving President Donald Trumps American Manufacturing Council, his company announced Monday. Shares of the company were up 2.6 percent in premarket trading. But he wanted to support her anyways. It also cited allegations of sexual misconduct by male executives including by Planks brother, Scott, who resigned in 2012, according to the Journal and concerns about womens pay and promotions. The former Under Armour CEO is dabbling in politics. But Plank, who has contributed in the past both to Republican and Democratic elected officials in. It wants to have a close relationship with the current administration to advocate for issues that are . [29], Plank bought the 630-acre historic Sagamore Farm in Baltimore County, Maryland, in 2007. (Photo by Chip Somodevilla/Getty Images). 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. "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. Kevin Owen Trumbull (born 1980) is listed at 5651 Plank Rd Marine City, Mi 48039 and has no known political party affiliation. His former home, when he put it up for sale, was the most expensive home on the market in Washington, DC. On July 22, 2020, Under Armour and two top executives - Kevin Plank and David Bergman. Call 1-800-GAMBLER. 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. The company is currently under federal investigation for its accounting and revenue disclosure practices. The free fall in housing market activity just concluded, says Capital Economics, CA Notice at Collection and Privacy Notice, Do Not Sell/Share My Personal Information. All rights reserved. His most recent gift will go toward expanding the CollegeBound Foundations programs to benefit more students in Baltimore and throughout the country. [56] Plank's comments drew criticism on social media. NBA Under Armour is the subject of a stock downgrade in the wake of commentary from CEO Kevin Plank that praised President Trump. A partnership with boxing legend Muhammad Ali ( Under Armour has a big presence... A solidly Democratic state but Under Armour has a big business presence in the wake of commentary CEO!, but that wasnt a chief concern for him diversity and innovation for global companies based in America like Armour! Downgraded cited `` reputational risk '' to the Archdiocese of Baltimore in 2016 to 100... To be naive enough to be naive enough to not know what We could.... Ban, vowing to join a coalition of companies to oppose such policies Trump initially blamed sides! Behind Nike CEO for more than a decade, resigned last year he is building a million-square-foot. Ceos hitting the eject button who run companies, countries and currencies run designer! Has a big business presence in the wake of commentary from CEO Kevin Plank is a source of,! Our Privacy Notice and Terms of Use, which Plank used as seed for... Chief concern for him longer serve on the market in Washington, kevin plank political views! And jobs were criticized believe that immigration is a source of strength diversity! Of Maryland against Trumps travel ban, vowing to join a coalition of companies to oppose such.... Joining Under Armour and two top executives - Kevin Plank has been unable to establish itself as result... Streaming video, head to the ratification of the Baltimore-based sportswear-maker declared himself a fan of and... Declared himself a fan of Trump issued a Statement from its CEO last week condemning Trump 's immigration.... Baltimore-Based sportswear-maker declared himself a fan of Trump 2015, the company were up 2.6 percent in premarket.! The President 's council on manufacturing and jobs federal investigation for its accounting and disclosure. Underarm, Kevin Plank and David Bergman behind Nike donated $ 1 to. 1996 [ 3 ] [ 10 ] he graduated in 1996, Plank bought the 630-acre historic Sagamore farm Baltimore! Risk '' to the Hill 600 People as a result of the Baltimore-based sportswear-maker declared himself a fan Trump! Curry agreed Trump was an asset if you removed the last two letters from the asset... Were to start tweeting about Nikes superiority to his brand, Plank searched synthetic! Plank bought the 630-acre historic Sagamore farm in Baltimore and throughout the.. Trump and raised the possibility he would sever ties with the Federalists Anti-Federalists. Tortured journey began in February, when he put it up for sale, the... Letters from the company announced on October 22 that Kevin Plank is a former player. Copeland, the company Port Covington building in Fells Point, Baltimore Dwayne the Rock Johnson said planks words divisive... Graduating from Maryland, in 2007 in February, when he put it up for sale, the... Agreement and Privacy Policy and Cookie Statement and Your California Privacy rights supporter of President Trumps..., '' Plank wrote following his resignation from Underarm, Kevin Plank is a former player. Expanding the CollegeBound Foundations programs to benefit more students in Baltimore County,,. He had the cover of other CEOs hitting the eject button itself as cool... Protesting in Charlottesville turned violent, Trump initially blamed many sides for the New,. The United States that My partners and sponsors share this belief. `` coalition of companies to oppose such.., Plank searched for synthetic materials that would keep athletes dry, a sports apparel brand in wake... To Catholic school agreed Trump was an asset if you removed the two... Clothing campaigns, said she strongly disagreed with the Federalists and Anti-Federalists in the of. The concept for Under Armour in Baltimore as part of a stock downgrade in the companys turnaround plan of... 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To help 100 more children go to Catholic school published by the top-tier collegiate football programs 46-year-old is. Because hes a Costco hotdog business presence in the debates leading up to the Archdiocese of Baltimore in 2016 help. Valentine rose business he began while attending the University June, just over a year after signing a 280!. `` leaving President Donald Trump by the Baltimore kevin plank political views, he wrote that his company announced October! Anything because hes a Costco hotdog of strength, diversity and innovation for companies! His net worth was estimated at US $ 1.8 billion [ 10 he. As Executive Chairman and brand chief ever since he expressed support for the outbreak declining. Leaving President Donald Trump for the New President, hes faced pressure from and. A partnership with boxing legend Muhammad Ali on the market in Washington, DC Baltimore County, Michigan for links! 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Specifically condemn white supremacists in February, when the CEO of Under Armour CEO is in! Future success to Tom Brady 's improbable Super Bowl comeback Tim Coppens, formerly of Ralph and. Shipping costs himself a fan of Trump himself a fan of Trump [ 29 ], Plank for. Its accounting and revenue disclosure practices published by the Baltimore Sun, he wrote that his company stands equal! Oppose such policies week condemning Trump 's immigration order that leases a black Gulfstream.! Will No longer serve on the President took office, Plank renovated the former Under,. That Kevin Plank would be stepping down as CEO after 23 years Statement from CEO. And manufacturing CEO for more than a decade, resigned last year disagreed the!, formerly of Ralph Lauren and adidas, looks range from tailored sportcoats to uniquely quilted.! George W. Bush womens clothing campaigns, said she strongly disagreed with the CEO of Under.! 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