Under Armour CEO Kevin Plank steps down after scandals

Under Armour chief executive Kevin Plank — who got rocked last year by reports that he had presided over a frat-house culture at the athletic wear giant — will step down from the role next year.

Plank, who has been chief executive since he founded the company in 1996, will relinquish the helm at the beginning of next year. He will be succeeded by chief operating officer Patrik Frisk, who joined Under Armour in July 2017 from his position as CEO of footwear and accessories company Aldo Group.

Shares of the company were up 2.6 percent in premarket trading.

Late last year, the Wall Street Journal reported that Plank and other execs for years had taken athletes and co-workers to the Scores strip club that’s down the street from Under Armour’s Baltimore headquarters — with some billing the company for the sleazy outings.

“On some visits, employees charged hundreds of dollars there to the company,” the paper reported, citing unnamed sources.

The jiggle-joint jaunts were just one example of a history of hostile behavior toward women at the company under Plank, according to the explosive article.

It also cited allegations of sexual misconduct by male executives — including by Plank’s brother, Scott, who resigned in 2012, according to the Journal — and concerns about women’s pay and promotions.

At the time, Under Armour told The Post that “it’s false to report that Kevin Plank used corporate dollars” at strip clubs, and added that Plank “didn’t conduct business at strip clubs or use company funds at such venues.”

Earlier this year, the Journal also reported that 47-year-old Plank had a close relationship with MSNBC anchor Stephanie Ruhle — and solicited her business advice over that of his own management team. Employees at the athletic apparel giant were uncomfortable with their relationship, according to the report, and were unsure how to handle her feedback because many believed she had romantic ties with Plank. Both are married.

Also in February, The Post reported that Plank is also tight with former MSNBC political analyst Steve Schmidt — who worked for Plank as a consultant until last year. Sources said Schmidt was instrumental in recommending Plank join one of President Trump’s economic councils in 2017, which turned out to be a public-relations fiasco for Under Armour.

Since joining Under Armour, 56-year-old Frisk has played a main role in the company’s turnaround plan. He will join the board, while Plank transitions to executive chairman and brand chief.

“Our multi-year, transition approach has ensured purposeful leadership continuity. Patrik is the right person to serve as Under Armour’s next CEO,” said Plank.

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