Under Armour Probe May Loosen Plank’s Grip on Operations
- Company’s founder may be forced to relinquish some control
- ‘In every race, there is a time to pass the baton’: analyst
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Under Armour Inc. founder Kevin Plank has maintained control over the sportswear company even after stepping down as chief executive officer -- but a federal accounting investigation could loosen his grip.
The brash executive remained the chairman and largest shareholder even after relinquishing the CEO role in January after 23 years. Last October, Plank told Bloomberg TV that he would remain heavily involved in the business.