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Kevin Plank

All articles tagged with #kevin plank

business1 year ago

"Founder's Return as CEO Sends Under Armour Shares Plummeting"

Under Armour has brought back founder Kevin Plank as president and CEO amidst industry challenges, including a 70% stock decline and lowered revenue outlook. The company faces struggles in maintaining brand affinity and has had various setbacks, leading to investor skepticism. In contrast, Dick’s Sporting Goods reported strong sales and earnings, with its House of Sport stores driving growth, in a positive exception to the industry trend.

via Front Office Sports|
#athletic-apparel#business#dicks-sporting-goods
business1 year ago

"Under Armour Founder Kevin Plank's Return as CEO Sends Shares Plummeting"

Under Armour's shares plunged 12% after announcing that founder Kevin Plank will return as CEO, replacing Stephanie Linnartz who had been in the role for barely a year. Wall Street analysts downgraded the company and expressed concerns about the leadership changes, with some questioning the company's strategy and future prospects. The retail industry is facing challenges such as soft demand in North America and cautious wholesale orders, impacting companies like Under Armour. The brand's frequent leadership changes and strategic shifts have led to confusion among consumers and wholesale partners, making it difficult to rebuild the business.

via CNBC|
#business#ceo#kevin-plank
business1 year ago

"Under Armour's CEO Shuffle: The Rise and Fall of Kevin Plank and Stephanie Linnartz"

Under Armour's CEO Stephanie Linnartz is being replaced by founder Kevin Plank after her bet on a turnaround job at the struggling sportswear company backfired. Linnartz, a respected executive, faced challenges including slowing growth, a plummeting share price, and a founder unwilling to relinquish control. Her departure highlights the difficulties faced by ambitious women CEOs working to fix problems created by predecessors or founders, and raises questions about gender dynamics in corporate leadership.

via Fortune|
#business#ceo#corporate-leadership
business1 year ago

"Under Armour Founder Kevin Plank Returns as CEO Amid Stock Turmoil"

Under Armour founder Kevin Plank has replaced Stephanie Linnartz as CEO, with analysts expressing surprise at the move. Plank, who previously faced operational mishaps during his tenure, now has "a lot to prove" as he reassumes the CEO position. The company's stock is under pressure following the leadership shake-up, with uncertainty surrounding Plank's strategic direction and a lack of trust in his leadership.

via Yahoo Finance|
#business#ceo#kevin-plank
business1 year ago

"Under Armour Founder Kevin Plank Takes Over as CEO Amid Stock Turmoil"

Under Armour's founder, Kevin Plank, has replaced CEO Stephanie Linnartz after just 13 months, taking back the reins despite stepping down in 2020. Linnartz, a former Marriott executive, had plans to revitalize the struggling athleticwear company by focusing on athleisure and expanding its retail footprint. However, she was let go before her vision could come to life. Plank's return raises questions about the company's future, especially given its previous scandals and stalled sales.

via Fast Company|
#athleticwear-industry#business#ceo-replacement
business1 year ago

"Under Armour Founder Kevin Plank Reinstated as CEO, Ousting Linnartz"

Under Armour's founder Kevin Plank is returning as CEO, ending Stephanie Linnartz's three-year turnaround plan after just over a year. Linnartz, who took over the struggling sportswear chain in 2023, will be leaving the CEO role at the end of this month. Plank, who first stepped down in 2020, will become the company's fourth CEO in four years. The abrupt CEO change comes as Under Armour continues to face challenges in revenue and brand identity, while Plank's continued presence and the company's political and personal controversies remain ongoing concerns.

via Fortune|
#business#ceo#kevin-plank
business1 year ago

"Under Armour Welcomes Kevin Plank Back as CEO, Appoints Mohamed El-Erian as Board Chair"

Under Armour announced that founder Kevin Plank will return as CEO, replacing Stephanie Linnartz who had taken over just over a year ago. Linnartz will stay on as an advisor through April, and Mohamed El-Erian will take over as board chair. Plank, who stepped down as CEO four years ago, will continue as a director on the board. Linnartz, with a background in hospitality, was chosen for her experience in digital sales and loyalty programs. Plank thanked Linnartz for her contributions, while Linnartz expressed pride in the progress made during her tenure.

via CNBC|
#business#ceo#kevin-plank
business2 years ago

"Under Armour Founder's Strategic Response to Negative Coverage Revealed in Records"

Court records reveal an unusual relationship between Under Armour founder Kevin Plank and television anchor Stephanie Ruhle, including private jet trips, access to confidential company information, and a secret phone for communication. Ruhle, who was a Bloomberg reporter at the time, advised the company during negative coverage and suggested sending data to media outlets. The filings raise ethical questions about the boundary between reporters and the people they cover. Plank referred to Ruhle as a confidant, while Ruhle acknowledged flying on Plank's private jet and having a separate phone for their communications. Under Armour stated that the filings have no bearing on the shareholder lawsuit, which they are defending vigorously. MSNBC and Bloomberg declined to comment.

via CNBC|
#business#kevin-plank#media-ethics
business2 years ago

CEO's Secret Recordings Expose Intimate Relationship with TV Anchor

Newly released court documents reveal that Under Armour founder Kevin Plank provided television anchor Stephanie Ruhle with a private phone and confidential financial information, seeking her assistance in addressing concerns about the company's declining sales. The documents shed light on the close relationship between the two individuals.

via The Wall Street Journal|
#business#close-relationship#confidential-information
business2 years ago

"Secret Recordings Reveal CEO's Controversial Relationship with TV Anchor"

Lawyers leading a shareholder suit against Under Armour discovered that CEO Kevin Plank had occasionally received informal business and media counsel from MSNBC anchor Stephanie Ruhle, who also reported on the company. The flights they took together on a corporate jet owned by Plank's company raised concerns about potential misuse of company resources. Additionally, Ruhle had previously discussed on air a Morgan Stanley report that caused Under Armour's share price to drop, but she dismissed the report as based on incomplete and premature sales figures.

via Puck|
#business#kevin-plank#securities-fraud