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Under Armour founder and CEO Kevin Plank speaks at a press conference in 2012.
The move comes after Merck CEO Kenneth Frazier, the only black business leader in the council, resigned from the group after Trump initially failed to explicitly denounce white nationalists following the events in Charlottesville, Virginia.
A number of other CEOs have said they will remain on the council in order to impact policy going forward.
Plank previously stepped into the political arena by calling Trump "a real asset to this country." Plank later clarified his comments saying it was "unfortunate that my words got characterized in a way that were meant to be divisive in some way, shape, or form."
Here is Plank's full statement:
"I joined the American Manufacturing Council because I believed it was important for Under Armour to have an active seat at the table and represent our industry. We remain resolute in our potential and ability to improve American manufacturing. However, Under Armour engages in innovation and sports, not politics.
I am appreciative of the opportunity to have served, but have decided to step down from the council. 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."
This is a developing story...