Kevin Plank. [19] The ad resulted in $1 million in direct sales for the following year, and athletes and teams began buying the product. I personally believe that immigration is the foundation of our countrys exceptionalism, wrote Plank. Now that Ken Frazier of Merck Pharma has resigned from President's Manufacturing Council,he will have more time to LOWER RIPOFF DRUG PRICES! education, transportation, technology and urban infrastructure Since 1957, GQ has inspired men to look sharper and live smarter with its unparalleled coverage of style, culture, and beyond. 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. 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. 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. (Trump also praised L.L. In North America, sales were $940 million, a slight decrease from the previous year. 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. 2 athletic apparel brand in the U.S. behind Nike. "We stand firmly for equal rights," Plank wrote. [61], "Kevin Plank donates $1 million to Baltimore Catholic schools", "How Kevin Plank turned a single idea into a global brand", "2003 Businessperson of the year: The man behind the 'armour', "Under Armour founder gives $16 million to St. John's College High", "How the founder of Under Armour went from getting kicked out of high school to running a $22 billion company", "From rags to microfiber: inside the rapid rise of Under Armour", "WWE's Darren Drozdov thrives 15 years after being paralyzed during match", "Five finalists chosen for Kevin Plank's Cupid's Cup competition", "Taking on the giants: How Under Armour founder Kevin Plank is going head-to-head with the industry's biggest players", "Kevin Plank is betting almost $1 billion that Under Armour can beat Nike", "20 things you didn't know about Under Armour", "Under Armour founder breaks into billionaires club", "Under Armour acquires weight loss app, MyFitnessPal, for $475 million dollars", "Under Armour Buys Apps in Bid to Become Top Fitness Tracker", "Kevin Plank Is Betting Almost $1 Billion That Under Armour Can Beat Nike", "Under Armour exits yet another school sponsorship deal as part of big shrink". The concept for Under Armour was based on Plank's personal experience playing college football. "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.". 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. I wanted to let her know, as a citizen, how much I appreciated her brave, clear-headed stance, said Costner. The company announced on October 22 that Kevin Plank would be stepping down as CEO after 23 years. For a certain segment of customers -- those who are active on Twitter -- Plank's statements were not well received. Intel Corp.s Brian Krzanich then joined the exodus, echoing Frazier in calling his decision a matter of personal conscience. Krzanich was the only one of the three CEOs to explicitly cite Charlottesville. Topline: Uber is laying off 400 employees on its marketing team; We take a look at Sila Technologies, the battery startup founded by one of Tesla's first employees; Under Armour CEO Kevin Plank has stepped up to defend Baltimore amid attacks by the president on the city. With a minimum net worth of $2 billion, it is tougher than ever to stay on the Forbes 400. Under Armour is a national business, and how the CEOs political views gel with his home states arent everything on their own. Costner said he wouldn't run for office, unlike his character on the show. After ratification, the Federalists and Democratic Republicans became the first true political parties. But as Trump supporters take the place of anti-Trump groups in criticizing Under Armour, the 45-year-old CEO finds himself and his company still embroiled in a controversy he may have been looking to escape. For Under Armour, Is The Only Way Through? Meanwhile, Nike, Asics, and Adidas all issued statements against the president's travel ban last week, but Under Armour did not. The president has been a problem for Under Armour and its CEO, Kevin Plank, since February. [5], Plank grew up playing youth football with the Maplewood Sports Association; a Maplewood team has appeared in Under Armour commercials. 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. Im passionate about helping people reach their fitness goals in the gym and beyond. Put simply, Under Armour has been unable to establish itself as a cool street brand. 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 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. [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. As of October 2021, his net worth was estimated at US$1.8 billion. Ever since he expressed support for the new president, hes faced pressure from consumers and his own endorsers to revisit his position. From award-winning writing and photography to binge-ready videos to electric live events, GQ meets millions of modern men where they live, creating the moments that create conversations. Still, he remained on the advisory board. Im committed to making sure every client I work with gets the best results possible. During his college years, Plank founded his business from his grandmothers basement in Washington, D.C., and has since held the position of CEO. [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. He is building a 4 million-square-foot headquarters for Under. [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. He wants to make bold decisions and be really decisive." Company CEOs are making calculated decisions about the risk of appearing to side for or against the president in a polarized political climate. In the mid 1990s he sold his first shirts from his grandmother's basement, exaggerating to early customers to make the company sound bigger. At Under Armour, our diversity is our strength, and we will continue to advocate for policies that Protect Our House, our business, our team, and our community. 23 on 50 Most Influential People in Sports by, No. Under Armour CEO Kevin Plank is leaving President Donald Trumps American Manufacturing Council, his company announced Monday. Terms & Conditions. [27][28], Plank is a member of the board of trustees for the National Football Foundation. Grandstanders should not have gone on. 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. Since 2003, Plank has been married to Desiree Guerzon, and they have two children together in Lutherville, Maryland. Under Armour founder Kevin Plank built a popular sportswear brand as the underdog competitor to Nike. 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. [16] Plank said he chose the British spelling "armour" because he "thought the phone number 888-4ARMOUR was much more compelling than 888-44ARMOR". Under Armour 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's Trump praise might make that organic growth even harder, though it appears that Plank is aware of this. Denouncements from its own popular athletes (and their fan followings) over Planks stance on Trump has likely done little to sway shoppers. 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. "It's unfortunate that any positive commentary in today's political climate is perceived as 'all or nothing' in support for or against any particular individual and his/her politics," Moser said. [58], Plank sat on the President Trump's American Manufacturing Council. 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. To revisit this article, visit My Profile, thenView saved stories. Kevin Plankcaused a stir three years ago when he spoke positively of Donald Trumpa couple of weeks after the president had been inaugurated. I write about women who run companies, countries and currencies. "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. [9], Plank originally sought to call his new sportswear company Heart, but he could not trademark it. The move follows more than three years of the sports apparel companys financial and cultural struggles. We stand firmly for equal rights, Planks letter read. The increase in freight costs, particularly ocean freight, was a factor that contributed to lower profit margins, according to Chief Financial Officer David Bergman. "I'm a big fan of people that operate in the world of 'publish and iterate' versus 'think, think, think, think, think,'" Plank said. 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. Noticing his football teammates' sweat-soaked shirts, Plank came up with a lightweight, sweat-wicking shirt using fabrics from women's undergarments. "jebarker@baltsun.comtwitter.com/sunjeffbarkerlorraine.mirabella@baltsun.com, Under Armour said in the 280-word statement, Do Not Sell/Share My Personal Information. According to the companys statement Friday, it expects revenue to grow between 5% and 7% in the fiscal year that ends in March. (Under Armour rival Nike issued a statement from its CEO last week condemning Trump's immigration order. Reflects change since 5 pm ET of prior trading day. @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! That's only heightened in terms of importance as the country has become more divided in political views. [12], Before living in Lutherville, he lived in the Georgetown section of Washington, DC. Both Plank and her have traveled on his private jet, and she has offered him advice on business matters. The panel, focused on developing innovative ways to support American manufacturing, includes top executives from Ford Motor Co., Dell Technologies and Johnson & Johnson. "What the CEO said reflects where they stand on the issues, and I don't think that statement addresses that," said Khan, 29. 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