Under Armour CEO Walks The Plank
Motley Fool Hidden Gems Investing
The Motley Fool
4.3 • 3.1K Ratings
🗓️ 14 March 2024
⏱️ 31 minutes
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| 0:00.0 | The Prodigal CEO returns at Under Armour. |
| 0:07.0 | Motley Full Money, I'm Deidro Willard here with Motley Full contributor |
| 0:24.3 | Jason Hall. Jason how's your Thursday going? It's going awesome. I'm really |
| 0:27.8 | excited to be on. We've got some fun things to talk about that you and I both |
| 0:31.1 | think are very very interesting things. |
| 0:34.0 | Yeah let's let's begin with that because the thing that caught by attention yesterday afternoon |
| 0:38.6 | was the big news that Under Armour founder Kevin Plank he's back in the CEO seat. He didn't even give the outgoing CEO |
| 0:46.6 | Stephanie Lenards a full year. So I don't know and he's you know this isn't the |
| 0:52.0 | first time that he has handed |
| 0:54.7 | overpower and and taken it back rather quickly although Patrick Frisked did last |
| 0:59.1 | about two years so what do we think here is this is this like Schultz Iger syndrome is that is that what's happening here that he just can't let go? |
| 1:08.0 | I love I love that I absolutely love it but I will say this I will say this in defense of Schultz. Schultz needed to come back. The second time |
| 1:16.7 | Schultz came back is a issue of they just screwed up. They didn't do succession planning |
| 1:22.1 | really well. |
| 1:23.2 | Maybe we could certainly call this Eiger syndrome. |
| 1:25.2 | That's, that's for, I think that's fair. |
| 1:28.0 | So there's this idea of trying to, I think, |
| 1:31.5 | recapture what Under Armour was for its first decade is a public |
| 1:35.8 | company right the company under the from the time that Kevin Plank founded it, let it through IPO, through maybe about a year or so before the |
| 1:46.6 | end of his first tenure. |
| 1:49.2 | Deedra, they grew revenue 20% year over year every quarter, every quarter for I believe it was about 10 years |
| 1:59.0 | straight it was in a remarkable run of 20 plus percent growth that very few companies ever ever get. |
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