Under Armour CEO Kevin Plank, Stephanie Ruhle’s Relationship: No Company Funds Used

At a time sports gear maker Nike is tackling the damage from a shoe-breaking controversy, yet another brand from the same industry is battling controversy over the CEO’s romantic link up and use of company funds for running that relation.

Under Armour CEO Kevin Plank had been in a relationship with MSNBC anchor Stephanie Ruhle, reported The Wall Street Journal.

It mentioned that Plank took Ruhle on his personal private jet and solicited her advice on many business issues.

However, the company’s senior vice president of communications, Kelley McCormick said Plank and Ruhle are just friends and the idea that “Mr. Plank uniquely listens to any one individual is absurd.”

Company funds not spent on personal relation

The report also said, after the company became aware of Plank's relationship from many emails, it asked Plank about it. He explained that “it was a private matter and that no company funds were spent.”

A CNBC report also said no Under Armour money has been spent on Plank's relationship with Ruhle.

Blurred lines of business and personal life

The report highlights the close relationship and the areas where Plank sought her tips. One issue was how to manage the customer backlash over basketball star Stephen Curry's sneakers in 2016.

Plank again took Ruhle’s advice on how to deal with President Donald Trump. Plank and other business leaders resigned from Trump's manufacturing council in 2017 after the President declined to condemn white nationalists in the Charlottesville attack.

“Former and current executives said Mr. Plank's use of the jet and his relationship with Ms. Ruhle were among the many ways the CEO blurred the lines between his personal activities and Under Armour,” the report said.

Many employees resented Plank taking Ruhle’s advice as they believed “she was romantically involved with Mr. Plank,” it added.

A spokesperson for MSNBC declined to comment. Ruhle also refused to comment.

The report has appeared at a time Under Armour has been making claims that it is working to turnaround the company culture.

Plank told CNBC in a December interview that he wanted to evolve a diverse and inclusive company. The CEO reacted after reports surfaced that its employees used to charge strip club visits on their corporate cards.

Plank’s high control on director board

In the past also, there had been media reports suggesting many executives including Plank himself would attend strip clubs. So, this is not the first time Plank's lifestyle or work style is coming under the limelight.

As the founder of Under Armour, Plank exerts higher clout in the company with voting control vested under a dual-class stock model helping him to constitute a pliant board of directors.