Introduction
Major player in the sportswear market, Under Armour has developed from a little company into a worldwide known brand. Well-known for its creative athletic clothing and high-performance gear, the brand has had a big influence in the cutthroat sports apparel market. However, who owns Under Armour? The ownership structure, leadership, and main players of the organization are investigated in this blog post.
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The founding of Under Armour
Former university of Maryland football player Kevin Plank started Under Armour in 1996. Starting from the basement of his grandmother, Plank sought to design moisture-wicking athletic clothing that would keep athletes dry and comfortable. His creativity produced compression shirts and a new industry for sports clothing meant to improve performance.
Structure of Ownerhood
Being a publicly traded corporation, Under Armour is owned by those who own stocks in it. Under tickers UAA (Class A shares) and UA (Class C shares), the corporation is listed on the New York Stock Exchange (NYSE). Kevin Plank uses a dual-class stock structure, hence even though the company is publicly traded, he retains major influence over it.
Kevin Plank’s contribution to ownership
Under Armour’s creator, Kevin Plank, has Class B shares—special class of shares—which provide him more voting power. Because of his ownership of voting rights, Plank has a disproportionate impact on corporate decisions even though many investors buy Under Armour stock.
Prominent Investors
Although Plank is still the dominant player in the business, other institutional investors and mutual funds also control notable shares of Under Armour. Among the significant owners are some:
Vanguard Organisation Among the biggest investment companies worldwide, Vanguard controls a sizable portion of Under Armour’s publicly traded shares.
Another big asset management company, BlackRock Inc., owns a lot in Under Armour.
One other major institutional investor in the company is State Street Corporation.
Kevin Plank is the founder; he owns significant ownership, including Class B shares that give him great voting control.
Although these institutional investors own a large amount of Under Armour, their voting power is less than that of Plank because of the way the company is structured.
Executive Teams and Leadership
Though Kevin Plank stays connected to Under Armour throughout the years, the leadership team of the firm has witnessed changes.
Kevin Planks – Plank, the founder and previous CEO, resigned in 2020 but still serves Executive Chairman and business Chief to guarantee he still controls the course of the business.
Stephanie Linn Schwartz – Linnartz, who was appointed CEO in 2023, formerly served Marriott International as President. She was brought in Under Armour to spearhead digital transformation and expansion.
Mohamed El-Erian – Renowned economist and businessman El-Erian is the Chairman of the Board, thus heavily involved in strategic choices.
Dual-Class Stock System Under Armour
Under Armour’s dual-class stock structure influences distribution of ownership and control.
Publically traded Class A Shares (UAA) have standard voting rights.
Class C Shares (UA) are publicly traded yet have no voting rights.
Owned mostly by Kevin Plank, Class B Shares provide him more voting power, so enabling him to keep control over the business albeit with a lesser total share %.
Variations in ownership over time
Under Armour has changed significantly in leadership and ownership over time. Some important turning points consist in:
2016: Under Armour let Plank keep control while introducing Class C shares (UA) to balance voting power for common owners.
2020: Plank retired from CEO and passed the post to Patrik Frisk; he stayed quite active as Executive Chairman nevertheless.
2023: Stephanie Linnartz’s appointment as CEO marks still another change in leadership.
Public and Investor Affectance
Under Armour must still answer to institutional investors and the stock market even Kevin Plank has great influence over the business. Through their investments and voting power (where relevant), shareholders shape company strategy; changes in stock price affect the financial decisions of the business.
Conclusion
Under Armour is still publicly held, with NYSE shares traded, but Kevin Plank, its founder, has a lot of power using a dual-class stock arrangement. Although they control significant interests, institutional investors like BlackRock and Vanguard have little voting power. Under Armour’s leadership changes under new CEOs driving expansion as Plank guarantees the firm stays committed to its original goal. Knowing Under Armour’s ownership and governance helps one to better understand how the business runs and decides strategically in the cutthroat sportswear industry.