In the sweltering Mid-Atlantic summer heat of 1995, Kevin Plank helped lead his teammates through grueling two-a-day workouts as special teams captain for the University of Maryland football program. [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. After ratification, the Federalists and Democratic Republicans became the first true political parties. 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. All Rights Reserved. In 2020, as City Council president, he approved a $148 million tranche of TIF bonds, which financed the cost of engineering, design . Both are married. "What the CEO said reflects where they stand on the issues, and I don't think that statement addresses that," said Khan, 29. * 21+ (19+ CA-ONT) (18+ NH/WY). For a certain segment of customers -- those who are active on Twitter -- Plank's statements were not well received. At the time, Under Armour told The Post that its false to report that Kevin Plank used corporate dollars at strip clubs, and added that Plank didnt conduct business at strip clubs or use company funds at such venues.. Costner told USA Today that he knew Cheney, an outspoken critic of former President Trump, wouldnt win her primary against a Trump-backed candidate. [42] Following Plank's renovation, the building reopened as the Sagamore Pendry Hotel. His most recent gift will go toward expanding the CollegeBound Foundations programs to benefit more students in Baltimore and throughout the country. Playing football with the Maplewood Maple Leafs at a young age, he had a liking for athletics. A total of $24 million has been raised by the foundation since it was founded in 2011. [2], Plank married Desiree Guerzon, in 2003. [3] They have two children,[3] and live in Lutherville, Maryland. 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 While Under Armour has done well with its on-field merchandise, an initiative to expand beyond playing fields and onto city streets has proven tough. I personally believe that immigration is the foundation of our countrys exceptionalism, wrote Plank. He will be succeeded by chief operating officer Patrik Frisk, who joined Under Armour in July 2017 from his position as CEO of footwear and accessories company Aldo Group. 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. Kevin Plankcaused a stir three years ago when he spoke positively of Donald Trumpa couple of weeks after the president had been inaugurated. . I specialize in strength training, functional fitness and nutrition coaching. Use of this site constitutes acceptance of our User Agreement and Privacy Policy and Cookie Statement and Your California Privacy Rights. By taking a stance either way, you run the risk of alienating a major segment of your customers. 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. [40], Plank renovated the former Recreation Pier building in Fells Point, Baltimore. [13], While at University of Maryland, Plank launched Cupid's Valentine, a seasonal business selling roses on Valentine's Day. 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. 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. Under Armour doesnt want to look too cozy with an unpopular president whos widely reviled in the state where the company is headquartered. [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. Company CEOs are making calculated decisions about the risk of appearing to side for or against the president in a polarized political climate. 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.. Meanwhile, Nike, Asics, and Adidas all issued statements against the president's travel ban last week, but Under Armour did not. 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. 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. 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. Both Plank and her have traveled on his private jet, and she has offered him advice on business matters. 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. As of January 1, 2020, current COO Patrik Frisk will become CEO. In many cases, he said, "it goes away, and there's not a longer-term impact on brands or companies. "If those values don't align with their views, they will take their business elsewhere. Plank engaged in some quick crisis public relations. NBA Gambling problem? Under Armour manufactures footwear, sportswear, and accessories. 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. Who is Kevin Plank's wife? The president has been a problem for Under Armour and its CEO, Kevin Plank, since February. Then a Wall Street analyst downgraded the company. 5 NBA players who will likely make their first All-Star appearance, ranked. Plank, who started Under Armour in 1996 in his. [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". FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. Put simply, Under Armour has been unable to establish itself as a cool street brand. Under Armour was criticized by Dickss Sporting Goods CEO in 2018 for having a significant weakness. "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 expects to double its revenue from athleisure by 2026 to $6.3 billion, up from $6.3 billion in 2018. 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. In 2014, Under Armour suits were blamed for slowing down Olympic skaters. Just as looking too close to Trump isnt good, Plank and his communications team likely dont want to look too opposed, either. [16], Plank initially ran the business from his grandmother's townhouse in Georgetown. The name stuck. Plank admitted it himself in January, saying his brand needs to become more fashion. One such effort is Under Armours new UAS line, a high-end take on sportswear touted by runway shows and celebrities. However, based on his public statements and actions, it is generally believed that he is a Republican. You may opt-out by. But if Trump were to start tweeting about Nikes superiority to his brand, Plank might not like that, either. Under Armour will lose market share to Lululemon in 2021 after losing it in 2019. In North America, sales were $940 million, a slight decrease from the previous year. "My business is sports, health and fitness, but the things I like to do are horse racing and whiskey," the Under Armour founder told a crowd of UA and political dignitaries like Maryland Gov. 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. "Under Armour framed its involvement with Trump as focused on the manufacturing initiative, which complements its effort launched in Baltimore last year to test technologies for local production. Since 2003, Plank has been married to Desiree Guerzon, and they have two children together in Lutherville, Maryland. 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. Shortly after the president took office, Plank joined his White House Manufacturing Jobs Initiative in an advisory role. Under Armour is the subject of a stock downgrade in the wake of commentary from CEO Kevin Plank that praised President Trump. The company announced in May that it was extending the payment terms of its athletes as a way to cut costs. For every CEO that drops out of the Manufacturing Council, I have many to take their place. 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. 23 on 50 Most Influential People in Sports by, No. We are incredibly proud of this important first step in the evolution of creating more jobs at home. In February 2017, Plank was one of several business leaders who met with Trump to discuss job creation. [3][6] He left the prestigious Georgetown Preparatory School, a Catholic school, due to poor academic performance and behavioral issues,[7][8] then went on to graduate from another Catholic school, St. John's College High School, in 1990. 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. In the note, hedowngraded Under Armour from "neutral" to "negative" and took its price target from $24 per share to $14 per share. 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. [40] He was initially approached about creating a vineyard, but being a whiskey enthusiast he asked his business partner to research whiskey. Follow this author to stay notified about their latest stories. [52] In 2015, Plank pledged $16 million to St. John's College High School in Washington, DC, to fund athletics, academics and entrepreneurship initiatives. 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. [5], Plank grew up playing youth football with the Maplewood Sports Association; a Maplewood team has appeared in Under Armour commercials. founder said he views President Trump as a "real asset" to his company, going on to say, "He wants to build things. Lets rank the NFL teams still standing in the divisional round. Plank's comments may or may not be viewed in a positive light by existing Under Armour customers.". 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.. Tired of changing his perspiration-soaked cotton t-shirts . [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. Under Armour is headquartered in Baltimore, a deeply Democratic city in a solidly Democratic state. He stepped down from the council following President Trump's comments on violence in Charlottesville, Virginia, saying Under Armour "engages in innovation and sports, not politics". I wanted to let her know, as a citizen, how much I appreciated her brave, clear-headed stance, said Costner. "There's just as many people out there that want to see change as don't want to see change. He is building a 4 million-square-foot headquarters for Under. 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. I am stepping down from the council to focus on inspiring & uniting through power of sport. 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. [44] The next year, his charitable arm funded 40 summer jobs for Cherry Hill, Baltimore, public school students in the maritime transport industry. For Under Armour, Is The Only Way Through? "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.". In comparison to a year ago, international revenue fell 3% to $ 431 million. Plank had said in an interview on CNBC that Trump was "an asset to the country." 4. This is the core of our company. Plank, who has been chief executive since he founded the company in 1996, will relinquish the helm at the beginning of next year. According to Susquehanna Financial Group analyst Sam Poser, Plank's commentary didn't just breach conventional wisdom staying mum on matters of politics and religion. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. 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. Through our investment, hiring and in everything we do, we expect to be leaders in the advancement of all forms of diversity and gender.. Thecompany has posted 23 quarters . "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. GQ may earn a portion of sales from products that are purchased through our site as part of our Affiliate Partnerships with retailers. )It's not the first time Under Armour has found itself caught on the horns of a polarizing issue. "It was something they needed to do, and time will tell as we move forward as to whether it succeeds." 37 on Businessperson of the Year list by, No. The president isnt popular there or in any of the big cities in that part of the country. [51], In November 2014, Plank pledged $25 million to the University of Maryland to be used for the proposed athletics and academic complex. Following his resignation from Underarm, Kevin Plank received a personal note from George W. Bush. World-renowned athletes like Olympic . 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 years, Under Armour has had a long-term strategy for domestic manufacturing and we recently launched our first women's collection made in our hometown of Baltimore," the company's statement said. Plank heard it from his athlete endorsers: Copeland said on social media that she spoke with Plank at length on the matter. In February 2018, Plank stepped down from Trumps manufacturing council, citing several different issues that he disagreed with the president on. After protesting in Charlottesville turned violent, Trump initially blamed many sides for the outbreak, declining to specifically condemn white supremacists. [37], Plank Industries also bought and revamped the water taxi in Inner Harbor. 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. When The company has had bad news all year, with its stock price declining and workforce cuts reportedly on the way. [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 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. Planks praise of Trump didnt play well at home. 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Endorsers: Copeland said on social Media that she spoke with Plank at length on the horns of polarizing! Focus on inspiring & uniting through power of sport our User Agreement and Privacy Policy and Statement... Armour expects to double its revenue from athleisure by 2026 to $ 6.3 billion in.! The matter as a way to cut costs first All-Star appearance, ranked received! A polarized political climate in February 2018, Plank married Desiree Guerzon, in 2003 play well at home planks... The matter in 2011 speaks up about a polarizing issue benefit more students in Baltimore and throughout the country,! Sporting Goods CEO in 2018 for having a significant weakness the Maplewood Leafs. Functional fitness and nutrition coaching in Fells Point, Baltimore took office, Plank not! Start tweeting about Nikes superiority to his brand needs to become more.... Length on the matter state where the company announced in may that it was extending payment... 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