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Under Armour CEO stepping down with $6.9M separation agreement
Patrik Frisk, who took over as CEO and president of Under Armour in 2020 and led the Baltimore company as it navigated through the turbulence of a global pandemic, is leaving as its top leader. The company announced that Frisk will step down on June 1 and that Chief Operating Officer Colin Browne will fill […]
Plank begins planned sale of 5 million Under Armour shares
Under Armour Executive Chairman Kevin Plank has sold about 824,000 shares of his Baltimore-based company’s Class C shares as part of a pre-arranged stock trading plan that will ultimately see the company founder and brand chief sell up to 5 million shares. The shares, which were sold on Nov. 4 and 5, according to a […]
Under Armour cuts revenue forecast, faces federal investigation
Following the revelation over the weekend that the federal government is investigating its accounting practices, Under Armour reported Monday that third-quarter revenues dropped 1% and said that it expects revenues for the year to fall short of expectations. The Baltimore-based sports apparel brand reported $1.4 billion in revenue for the previous quarter. The brand now […]
Under Armour’s Plank quits Trump’s advisory council
Under Armour founder and CEO Kevin Plank announced Monday night that he was quitting a White House manufacturing advisory panel, a step that came after President Donald Trump came under withering criticism for what some said was a tepid response to a white supremacist rally Saturday in Charlottesville, Virginia, that turned violent. “I joined the […]
Amid growth slowdown, Under Armour announces restructuring
For years, Under Armour was the company that grew. Wall Street analysts and shareholders celebrated the company’s exponential growth in quasi-religious terms. But over the last year, that growth has slowed and CEO Kevin Plank, who could once walk across the water to Port Covington, has found the company he founded under fire and falling […]
Change at Under Armour: Plank still CEO, will step back as president
Under Armour Tuesday named Patrik Frisk as president and chief operating officer, providing founder Kevin Plank with a partner at a time when the Baltimore-based athletic apparel company has hit a rough patch. Frisk takes over July 10, and will report directly to CEO Plank. His responsibilities include executing the company’s longer-term growth plan and […]
Plank denounces Trump’s withdrawal from Paris climate accord
Under Armour CEO Kevin Plank spoke out against President Donald Trump’s decision to exit the Paris climate accord Friday, but he was silent on whether he would continue to serve on the president’s manufacturing advisory council. “Climate change is real and must be taken seriously by our business community, our customers, our neighbors and our elected […]
Under Armour in unfamiliar territory after posting 1Q loss
Growth has slowed for Under Armour in the face of aggressive competition from those two established brands alongside weak demand for its shoes.
Plank says Under Armour opposes Trump’s travel ban as analyst cuts target price
After a week of backlash from shoppers and his company’s most high-profile endorsees, Under Armour CEO Kevin Plank clarified his remarks about President Trump and his company’s commitment to equality and diversity in an open letter to Baltimore on Wednesday. “In a business television interview last week, I answered a question with a choice of […]
Analyst cuts Under Armour price target, citing Plank’s Trump praise
Under Armour Inc.’s chief executive officer made a mistake praising President Donald Trump, and the move could take a toll on the athletic brand’s reputation and stock price, according to a Susquehanna International Group analyst. CEO Kevin Plank’s recent comment that Trump was a “real asset” to the country drew rebukes from Under Armour’s own […]
Md. CEOs Plank, Hewson in meeting with Trump
Two Maryland companies were part of a breakfast meeting with President Donald Trump Monday morning, where the president said he would impose a “substantial border tax” on companies that move manufacturing oversees. Trump also promised tax breaks to companies that kept manufacturing in the United States. “All you have to do is stay,” he said […]
The game has changed in Baltimore
A new mayor claimed the headlines appropriately, but some of most important Baltimore news was being made 200 miles north in New York City. Under Armour CEO Kevin Plank urged several thousand national real estate developers to give Baltimore a look when they’re investing. Plank urged his convention center audience to recognize their civic responsibility […]
