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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. The former Under Armour CEO is dabbling in politics. [1] [2] [3] A member of the Republican Party , he served as House Minority Leader from 2019 to 2023 and as House Majority Leader from 2014 to 2019 under speakers . [19] The ad resulted in $1 million in direct sales for the following year, and athletes and teams began buying the product. 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. [27][28], Plank is a member of the board of trustees for the National Football Foundation. 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 2021, Plank's net worth was estimated to be around US$1.8 billion. capability. In many cases, he said, "it goes away, and there's not a longer-term impact on brands or companies. There appears to be some confusion about what the answer is. 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. 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. 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. ". "We are incredibly proud of this important first step in the evolution of creating more jobs at home. According to the Maryland State Board of Elections, Plank is a registered Republican. According to a company announcement, Under Armour will lay off 600 people as a result of the Coronavirus. He came out against Trumps travel ban, vowing to join a coalition of companies to oppose such policies. 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. [50] He is also responsible for the development of the Cupid's Cup business competition. 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. "Trump, Plank told the network, "wants to build things. He is building a 4 million-square-foot headquarters for Under Armour in Baltimore as part of a larger development called Port Covington. 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. We engage in policy, not politics. Offers may be subject to change without notice. Appearing on CNBC, the U.A. [51], In November 2014, Plank pledged $25 million to the University of Maryland to be used for the proposed athletics and academic complex. 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. I am stepping down from the council to focus on inspiring & uniting through power of sport. That's only heightened in terms of importance as the country has become more divided in political views. 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. For a certain segment of customers -- those who are active on Twitter -- Plank's statements were not well received. 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. (Paramount) Under Armour (Photo by Chip Somodevilla/Getty Images). 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. BALTIMORE Under Armour Founder Kevin Plank will step down as CEO in the new year to become the company's executive chairman and brand chief. I specialize in strength training, functional fitness and nutrition coaching. 5 NBA players who will likely make their first All-Star appearance, ranked. Plank is a former football player at the University of Maryland. [3] He continued to use the "Cupid" name when he later launched his Cupid's Cup competition. "It's a two-way street," he said. He is the founder and executive chairman of Under Armour. Sources said Schmidt was instrumental in recommending Plank join one of President Trumps economic councils in 2017, which turned out to be a public-relations fiasco for Under Armour. The brand's lifestyle attributes are not quite cool enough to compete with the likes of In an interview on CNBC, he praised the president as. 37 on Businessperson of the Year list by, No. He is a male registered to vote in St Clair County, Michigan. [20], Between 2014 and 2016, Under Armour spent close to $1 billion to acquire makers of activity- and diet-tracking mobile apps. All Rights Reserved. Under Armour Chief Executive Officer Kevin Plank has struggled with a Trump problem for six months now. 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. [58], Plank sat on the President Trump's American Manufacturing Council. [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. Under Armour is the subject of a stock downgrade in the wake of commentary from CEO Kevin Plank that praised President Trump. [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. And I personally believe that immigration is the foundation of our country's exceptionalism.". 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. SEC Is Investigating And Sends Kevin Plank A Wells Notice. Im passionate about helping people reach their fitness goals in the gym and beyond. [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. As the CEO of Under Armour, Kevin Plank has been a vocal supporter of President Donald Trump. Year-over-year, it's down more than 47%. 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. "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. Since 2003, Plank has been married to Desiree Guerzon, and they have two children together in Lutherville, Maryland. "What the CEO said reflects where they stand on the issues, and I don't think that statement addresses that," said Khan, 29. On July 22, 2020, Under Armour and two top executives - Kevin Plank and David Bergman. He started Under Armour while still in college. Plank would remain as Executive Chairman and Brand Chief. CEO Kevin Plank called President Donald Trump "a real asset to this country," he did not intend to spark a firestorm. Following his resignation from Underarm, Kevin Plank received a personal note from George W. Bush. and [31] The farm was the home to stallion Native Dancer, who went 21 for 22 during his racing career from 1952 to 1954. Under Armour manufactures footwear, sportswear, and accessories. His former home, when he put it up for sale, was the most expensive home on the market in Washington, DC. As the founder of Under Armour, Kevin Plank didn't set out to change Baltimore when he started the sports equipment and apparel brand there in 1998. The president isnt popular there or in any of the big cities in that part of the country. 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. The name stuck. Kevin Plank, the CEO of Under Armour, has resigned from the company. But Under Armour has a big business presence in the state and works closely with state and local government. [1] Contents 1 Early life 2 Career 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. "At no point in our history is it more important," said Auburn Bell, an adjunct professor of marketing at Loyola University Maryland. [21][22][23] Many long-term employees questioned Plank's strategy and whether the company would produce a return on their investment. "There's just as many people out there that want to see change as don't want to see change. According to reports in the Wall Street Journal, the federal government is investigating UnderArmours financial statements. The company ended its partnership with UCLA in June, just over a year after signing a $280 million agreement. 2022 Fortune Media IP Limited. Then a Wall Street analyst downgraded the company. 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. Company CEOs are making calculated decisions about the risk of appearing to side for or against the president in a polarized political climate. [32] Plank has said he seeks to restore the farm and rejuvenate Maryland's horse racing tradition by raising a Triple Crown winning horse. The concept for Under Armour was based on Plank's personal experience playing college football. "It was something they needed to do, and time will tell as we move forward as to whether it succeeds." Tired of changing his perspiration-soaked cotton t-shirts . Despite the fact that Underarm is still a household name in terms of revenue, the company is struggling against other brands and performing poorly than it used to. Who is Kevin Plank's wife? 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. 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. Kevin Plank and Under Armour. Kevin Plank. 2023 NYP Holdings, Inc. 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