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WSJ: Under Armor CEO relationship with MSNBC anchor causes movement

The journal cited a number of anonymous sources, including what is described as current and past managers, as well as "others familiar with the matter". The newspaper reported that Plank took Ruhle's advice, rather than under Armor leadership, on how to handle the customer's backlash over a version of the basketball star Stephen Curry's sneakers in 2016. She also advised Plank on how to deal with President Donald Trump in 2017, according to the article. Plank and other senior business executives completed Trump's manufacturing council that year after Trump failed to condemn white nationalists in Charlottesville, Virginia. "Former and current executives said Mr. Plank's use of the beam and his relationship with Mrs Ruhle were among the many ways in which the CEO blurred the lines between his personal activities and Under Armor," the newspaper reported. Under Armor's ( UAA ) the board examined e-mail messages between the two last year and asked Plank about the relationship and "if the company's assets were used", according to the newspaper. Plank told us that no company funds were spent. The newspaper could not determine whether the board took any further action. In a statement to CNN Business, a spokesman for Under Armor said "Mr. Plank is fully focused on Under Armor and its success." Kelley McCormick, under the army's vice communications director, told the Journal that Plank and Ruhle "are friends". "The idea that Mr. Plank uniquely listens to an individual is absurd," she told the newspaper, adding that Plank has many…

The journal cited a number of anonymous sources, including what is described as current and past managers, as well as “others familiar with the matter”.

The newspaper reported that Plank took Ruhle’s advice, rather than under Armor leadership, on how to handle the customer’s backlash over a version of the basketball star Stephen Curry’s sneakers in 2016. She also advised Plank on how to deal with President Donald Trump in 2017, according to the article. Plank and other senior business executives completed Trump’s manufacturing council that year after Trump failed to condemn white nationalists in Charlottesville, Virginia.

“Former and current executives said Mr. Plank’s use of the beam and his relationship with Mrs Ruhle were among the many ways in which the CEO blurred the lines between his personal activities and Under Armor,” the newspaper reported.

Under Armor’s ( UAA ) the board examined e-mail messages between the two last year and asked Plank about the relationship and “if the company’s assets were used”, according to the newspaper. Plank told us that no company funds were spent. The newspaper could not determine whether the board took any further action.

In a statement to CNN Business, a spokesman for Under Armor said “Mr. Plank is fully focused on Under Armor and its success.”

Kelley McCormick, under the army’s vice communications director, told the Journal that Plank and Ruhle “are friends”.

“The idea that Mr. Plank uniquely listens to an individual is absurd,” she told the newspaper, adding that Plank has many friends who offer advice, but the management team makes their own decisions.

A spokesman for MSNBC refused to comment on behalf of the company. Ruhle also refused to comment.

Plank’s business and Under Armor’s workplace culture have been questioned earlier.

In November, the magazine reported that executives and employees, including Plank, participated in strip clubs with athletes and employees over the years.

 Under Armor: New corporate culture report was difficult to read & # 39;

In a letter to employees at that time, Plank and President Patrik Frisk told employees that the journal feast was “difficult to read.”

“This is not the culture we see for Armor,” they wrote. “Improper behavior that challenges our values ​​or violates our policies is unaccepPlank’s business and Under Armor’s workplace culture has been challenged earlier.

In November, the magazine reported that executives and employees, including Plank, participated in strip clubs with athletes and co-workers over the years.

board – and will not be tolerated. “

Plank was founded under Armor 1996. He has majority voting control over the company via a double class model and can direct the election of members of the board.

Charles Elson, Head of Corporate Governance at Delaware University, said that these types of governance structures lead to weak oversight as board members can easily be replaced. 19659007] “The board has very little power in these companies to do anything,” Elson said. “It’s a responsible killer.”

Correction: An earlier version of the story characterized earlier reports on Plank and the company’s culture.


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