Byron Trott—who enjoys a reputation as Warren Buffett’s favorite banker—is apparently also pretty high on Kevin Plank’s list of people. Plank, executive chair of Under Armour Inc., sold Trott’s BDT Capital Partners about $100 million worth of shares.
Plank remains the company’s largest shareholder with 51 million shares, representing 12 percent of the total stock outstanding and 65 percent of the voting rights.
The executive chair — who this year turned day-to-day leadership of the company over to former Marriott executivePlank said: “I have maximum confidence in Under Armour, Stephanie Linnartz as CEO, and our strategy — especially our ability to drive future success and performance for shareholders.
Trott added, “We have strong conviction in Kevin’s vision for Under Armour and the refreshed, focused strategy laid out by Stephanie to position the business for attractive long-term growth.”
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