Under Armour's Kevin Plank rated as one of the country's worst CEOs
BALTIMORE (WBFF) - There's not much love for Baltimore's own Under Armour, on a new list of this year's 20 worst CEO's in America.
Under Armour CEO Kevin Plank made the cut of worst CEO's, released Thursday by 24/7 Wall St., a Delaware-based financial news website.
Plank was ranked fourth on the list of worst CEO's.
The ranking took into account stock price changes, earnings and revenue, and tenure at the company, according to a news release.
"Under Armour (NYSE: UA) is a great story of a company that grew from a basement operation into a powerhouse in a relatively short time, and Kevin Plank deserves much of the credit for that. Yet sometimes the founder of a company is not the best captain of the ship when navigating choppy waters," wrote 24/7 Wall St., in the news release.
The financial site noted Plank tried to right the ship by "bringing in outsider Patrik Frisk to be president and chief operating officer. However, with Plank remaining as chief executive and chairman, Frisk might find it harder to bring about change."
"The company's April 2016 stock split effectively gave Plank a super-vote and control of the company, and the stock has fallen even more since the split," said 24/7 Wall St.
The worst CEO in the country was Ginni Rometty, of IBM Inc.