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Under Armour Founder Kevin Plank to Step Down as C.E.O. [5] Plank tried several prototypes before deciding on the one he wanted to use. [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". Under Armour CEO Kevin Plank – who founded the company and grew it into a major force in the sports apparel industry only to see it stumble as it … [3] They have two children,[3] and live in Lutherville, Maryland. [37] The building was originally built in 1914 to store port cargo and later served as a community center and studio for the television series Homicide: Life on the Street; it closed in 1999. [23] A few years later, some of these acquisitions would be divested by the next CEO. Kevin Plank With Michael Phelps. Reflects change since 5 PM ET of prior trading day Under Armour founder Kevin Plank built a popular sportswear brand as the underdog competitor to Nike. His company is the second largest sportswear vendor in the whole of America, picking up sales of around 3.8 billion USD this year. [32] Plank has said he seeks to restore the farm and rejuvenate Maryland's horse racing tradition by raising a Triple Crown winning horse. [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". [49], Plank has been a long-time supporter of the University of Maryland's Robert H. Smith School of Business and Dingman Center for Entrepreneurship. Kevin A. Plank (born August 13, 1972) is an American billionaire businessman and philanthropist. 23 on 50 Most Influential People in Sports by, No. [20], Between 2014 and 2016, Under Armour spent close to $1 billion to acquire makers of activity- and diet-tracking mobile apps. [51], In November 2014, Plank pledged $25 million to the University of Maryland to be used for the proposed athletics and academic complex. This mini-documentary details how Under Armour evolved from a t-shirt company to a tech company. He will be replaced by current chief operating officer … Then, he asked his erstwhile teammates to check out his formula. [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. As his friends moved on to play professionally, he would send them T-shirts, requesting that they pass them out to other players in their locker rooms. "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 LIst–Brian 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. Kevin Plank. [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. [16] One day, his brother asked him, "How's that company you're working on … Under Armor?" He attended the University of Maryland, College Park and graduated in 1996 with a bachelor’s degree in business administration in hand. Forbes recognized Plank in2012 for his phenomenal work in changing players’ experience on the field. [42] Following Plank's renovation, the building reopened as the Sagamore Pendry Hotel. ... Kevin Plank marked the occasion by signing the box that made the milestone. During his university days, he came up with several small businesses and used the funding to capitalize his flagship sportswear project later on. Patrik Frisk, President, and Chief Operating Officer. The strategy was a success, earning the company the world's largest digital health-and-fitness community, with 150 million users. He’s had a heck of a run, and his story is well know in entrepreneurial circles: Chapter 1: Walks on to the football team at the University of Maryland in the early 1990s. [58], Plank sat on the President Trump's American Manufacturing Council. [37], Plank Industries also bought and revamped the water taxi in Inner Harbor. [18] In 1996, Plank finished his first year selling shirts with $17,000 in sales. [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. [40], Plank renovated the former Recreation Pier building in Fells Point, Baltimore. [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. Everyone knows the story. 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". [12] As of February 2018, Forbes estimated his net worth at US$1.8 billion. [9], Plank originally sought to call his new sportswear company Heart, but he could not trademark it. Plank is married to Desiree Guerzon and together the couple has one son Kevin James Plank. 6 on 50 Most Influential People in Sports by, No. [25][26], Plank announced his departure as CEO, in October 2019, and was succeeded, on January 1, 2020 by Under Armour COO Patrik Frisk. Inman Connect 2021 Events Announced! Thus, he began his quest for a compatible material which would wick off sweat from the body & make the player feel lighter & faster. [34] There are about 100 horses on Sagamore farm, with about 40 actively training as of July 2017. [54], According to the Federal Election Commission, Plank has donated to both major U.S. political parties and to individuals of both parties. It’s an idea, it’s a theory, it’s a … Plank is the founder and executive chairman of Under Armour, a manufacturer of sportswear, footwear and accessories, based in Baltimore, Maryland. Under Armour’s first TV ad came up in 2003 and led to the rise of shorthand “we must protect this house” for Under Armour. In the ad, Plank said Under Armour stood for job creation, but publicly opposed the president's proposed travel ban. [40] Its first bottles were sold at stores in 2016. Plank has recently purchased fitness, health & calorie counting apps and has this goal to come up with the best online health platform in the world – that would rival Apple, Google, Fitbit & Jawbone. His company is the second largest sportswear vendor in the whole of America, picking up sales of around 3.8 billion USD this year. [10], However, he went to University of Maryland, College Park and walked onto the team there. He will … [15] After graduating from Maryland, Plank searched for synthetic materials that would keep athletes dry. The competition got its name from his “Cupid's Valentine” rose business he began while attending the University. He was the sweatiest person on the soccer field & he was desperately looking for an alternative that would keep him comfortable and dry while playing- which was not being possible with his usual sweat-soaked cotton shirts. Position: LB/RB More bio, uniform, draft info. [12], His roommate at Maryland was football player and professional wrestler Darren Drozdov. Kevin A. Plank was born on August 13, 1972, in Kensington, Maryland. [53] Plank donated $1 million to the Archdiocese of Baltimore in 2016 to help 100 more children go to Catholic school. [7][9] Afterward, he played football at Fork Union Military Academy for a year, trying to get the attention of NCAA Division I schools. Under Armour CEO Kevin Plank had a close relationship with MSNBC anchor Stephanie Ruhle that some deemed to be “problematic,” The Wall Street Journal reported Thursday. He was listed at #3 on the Forbes’ lists of “Annual 40 under 40” & “America’s 20 Most Powerful CEOs 40 and Under. Cupid's Valentine earned $3,000, which Plank used as seed money for Under Armour. Patrik Frisk, Under Armour’s current President … [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. [16], Plank initially ran the business from his grandmother's townhouse in Georgetown. 2011 [56] Plank's comments drew criticism on social media. 26 on Power 100 Most Influential Designers, Influencers and Leaders in the Shoe Industry by, No. Kevin Plank's unremarkable career as a college football player hardly ranks him with the greats of the gridiron. [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 founder Kevin Plank resorted to “sales tricks” and improper accounting to attain unrealistic sales goals as the brand’s popularity faded, shareholders allege in … Plank always had his entrepreneurial instincts even before he launched Under Armour. Kevin Plank is an eminent American entrepreneur, founder & CEO of famous sports apparel brand Under Armour. About Kevin Plank Kevin Plank, born in Kensington, Maryland in 1972, is the founder and former CEO of Under Armour, a clothing manufacturer of footwear, sportswear and related accessories. Kevin A Plank is Chairman/Chief Brand Ofcr/Founder at Under Armour Inc. See Kevin A Plank's compensation, career history, education, & memberships. [41] The limestone aquifer on Plank's farm produced water fit to distill whiskey,[18] so Plank and business partner Bill McDermond founded Sagamore Spirit to restore Maryland's whiskey distilling tradition. Under Armour’s origin story is nearly folklore at this point: in 1996, the brand’s founder Kevin Plank invented a sweat-wicking shirt in his grandma’s basement. [48] Through his Cupid Foundation, Plank donated $5 million to help create the UA House at Fayette, an East Baltimore community center run by Living Classrooms. [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. [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. Under Armour backs V Foundation & Power in Pink breast cancer education campaign. Kevin Plank is the founder, chairman and former CEO at Under Armour, one of the most successful sportswear companies in the world. Plank, a Roman Catholic,[2] grew up in Kensington, Maryland, a suburb of Washington D.C., the youngest of five brothers born to William and Jayne (née Harper) Plank. [9][10] He was not recruited by the top-tier collegiate football programs. "It was important," Plank said, "that this not just be my decision. Kevin Plank and his wife bought the 65-acre Greenspring Valley Road property for $2.8 million using limited liability company Three Diamond Land … “Brand is not a product that’s for sure; it’s not one item. The … From product launches and ground-breaking campaigns to key partnerships and big bets that propelled the Brand forward, these are the moments that made us who we are. Our story. [57] In the days following the remarks, Plank bought a full-page advertisement in The Baltimore Sun to clarify his comments. Kevin Plank is an eminent American entrepreneur, founder & CEO of famous sports apparel brand Under Armour. [10] He graduated in 1996[3][11] with a bachelor's degree in business administration. [29], Plank bought the 630-acre historic Sagamore Farm in Baltimore County, Maryland, in 2007. Kevin A. Plank (born August 13, 1972) is an American billionaire businessman and philanthropist. 4 on America's 20 Most Powerful CEOs 40 and Under, This page was last edited on 14 January 2021, at 21:00. Using a mix of his own cash, credit cards, and a Small Business Administration loan, he launched the business. Under Armour paid more than $73 million last year to businesses controlled by Kevin Plank, far more than he earned as the athletic gear maker’s chief executive. [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. [3][4] His father was a prominent Maryland land developer. [27][28], Plank is a member of the board of trustees for the National Football Foundation. At the National Retail Federation conference in New York, Under Armour founder and former CEO Kevin Plank spoke with Rod Sides, vice chairman and U.S. leader of … Kevin Plank Overview; More Kevin Plank Pages; Rushing & Receiving * indicates bowl stats included; Rushing & Receiving Table; Rushing Receiving Scrimmage; Year School Conf Class Pos … Under Armour CEO Kevin Plank had a close relationship with MSNBC anchor Stephanie Ruhle — and solicited her business advice over that of his own management team, according to a report. On branding. [33][32] On November 5, 2010, Sagamore Farms' Shared Account won the $2 million Breeders' Cup Filly & Mare Turf (GI). Mr. Plank started the activewear company in 1996 in his grandmother’s basement. At the helm of this high-growth company is Kevin Plank, an innovative and passionate entrepreneur, and also a fighter who has worked for years to get UA to where it … [57] Johnson called Plank's words "divisive". 16 on 50 Most Influential People in Sports Business by, No. But Under Armour, a bright idea hatched during … [30] The property was once owned by Alfred Gwynne Vanderbilt. [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". [52] In 2015, Plank pledged $16 million to St. John's College High School in Washington, DC, to fund athletics, academics and entrepreneurship initiatives. School: Maryland. His first big team sale was to Georgia Tech. Kevin A. Plank is an American CEO and founder of Under Armour, Inc., a leading manufacturer of sports performance apparel, footwear and accessories based in Baltimore. [2], Plank married Desiree Guerzon, in 2003. He's an American businessman, CEO and founder of Under Armor, a manufacturer of sports performance apparel, footwear and accessories, based in Baltimore. As some customers vowed to boycott the brand, three major endorsers—Stephen Curry, ballerina Misty Copeland, and actor Dwayne "The Rock" Johnson—went on Twitter to express their opposition. His core principles, which he has inscribed throughout the Under Armour headquarters in Baltimore, Maryland, are: "Think like an entrepreneur. One of them was Cupid’s Valentine which roses on Valentine’s Day & earned the young lad around $17,000. The breakthrough for Plank & Under Armour came in the year 1999 when a $25,000 ad in ESPN The Magazine amassed as much as 1million USD sales for the next year & teams & athletes started showing increasing interest in his product. [19] The ad resulted in $1 million in direct sales for the following year, and athletes and teams began buying the product. [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 attended Georgetown Preparatory School, Fork Union Military Academy, St. John’s College High School & University of Maryland. [12], Before living in Lutherville, he lived in the Georgetown section of Washington, DC. [5], Plank grew up playing youth football with the Maplewood Sports Association; a Maplewood team has appeared in Under Armour commercials. I carried one that said, Under Armour, Kevin Plank, President Under Armour. He also requested his friends to pass on his t shirt to the other players and this was how Plank’s t shirts gradually started garnering popularity. 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. [11][3] Frustrated by his cotton T-shirts' inability to keep him dry and comfortable, he searched for a material that would wick the sweat from his body. The name stuck. 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. [31] The farm was the home to stallion Native Dancer, who went 21 for 22 during his racing career from 1952 to 1954. www.TheCoupMedia.com [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. With that preamble, let’s talk about Kevin Plank, the self-made billionaire and founder of Under Armour. Is stepping back from the position, the building reopened as the Sagamore Pendry Hotel materials that would athletes... 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