While the stock market has soared since the election, not every company has benefited from the “Trump Bump.”
Among them is Under Armour, whose shares have sunk a painful 35 percent year-to-date. Perhaps desperate to generate what they believe will be positive publicity for them, their CEO is getting some media attention for slighting Donald Trump.
Merck’s CEO quit Trump’s American Manufacturing Council following what he perceived to be an inadequate response to the events that unfolded in Charlottesville – and now the CEO of Under Armour is doing the same.
.@Merck Pharma is a leader in higher & higher drug prices while at the same time taking jobs out of the U.S. Bring jobs back & LOWER PRICES!
— Donald J. Trump (@realDonaldTrump) August 14, 2017
CEO and founder Kevin Plank issued the following statement yesterday:
I love our country & company. I am stepping down from the council to focus on inspiring & uniting through power of sport. – CEO Kevin Plank pic.twitter.com/8YvndJMjj1
— Under Armour (@UnderArmour) August 15, 2017
According to Plank, the sportswear company “engages in innovation and sports, not politics.” The American Manufacturing Council has been the focus of politic attentions since Merck CEO Kenneth Frazier resigned earlier Monday, citing his “responsibility to take a stand against intolerance and extremism.”
Plank, for his part, only hinted at the recent white supremacist violence in Charlottesville, Virginia. Frazier departed following Trump’s apparent unwillingness over the weekend to single out white supremacists.
“I love our country and our company and will continue to focus my efforts on inspiring every person that they can do anything through the power of sport which promotes unity, diversity and inclusion,” Plank said in the above statement.
H/T CNBC
Interestingly enough, Plank called Trump a “real asset for the country” on CNBC back in February.
And Plank and Ken Frazier aren’t the only CEOs to leave the Council since Charlottesville. Brian Krzanich of Intel also resigned:
I stand with others for equality and improving US competitiveness. Both require
improving in todays environment. https://t.co/RcjpGaFXBQ— Brian Krzanich (@bkrunner) August 15, 2017
Here’s what he wrote on the company blog:
“I have already made clear my abhorrence at the recent hate-spawned violence in Charlottesville, and earlier today I called on all leaders to condemn the white supremacists and their ilk who marched and committed violence. I resigned because I want to make progress, while many in Washington seem more concerned with attacking anyone who disagrees with them.”
Wow. Even though President Trump has denounced and decried racism and white supremacy, it’s still not enough for these CEOs. It looks like Trump Derangement Syndrome has infected big business now too.
Share this story if you think that these CEOs care more about their profit than making America great again!
