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Adidas extends chief executive’s contract by five years

Sportswear brand Adidas has extended its chief executive Kasper Rorsted’s contract by a further five years. Rorsted has been a member of the Adidas executive board since… View Article

SPORTS & LEISURE

Adidas extends chief executive’s contract by five years

Sportswear brand Adidas has extended its chief executive Kasper Rorsted’s contract by a further five years.

Rorsted has been a member of the Adidas executive board since August  2016 and became the company’s chief executive two months later.

Igor Landau, Adidas chairman, said Rorsted had driven the implementation of the company’s long-term strategy with great success.

He added: “The outbreak of the corona pandemic posed major challenges even for a successful company such as Adidas. The management team under the leadership of Kasper Rorsted succeeded in steering Adidas and its employees healthily and safely through this unprecedented crisis. Continuity and strong leadership are important especially in these times, also in view of the new strategic cycle which will start in 2021.”

Meanwhile, Thomas Rabe, deputy chairman of the Adidas supervisory board, will be taking over from Landau as chairman at the end of the company’s AGM on 11 August.

Rabe added: “The supervisory board is looking forward to continuing its successful collaboration with Kasper Rorsted. We are convinced that under his leadership, the executive board will further advance Adidas’ development towards becoming the best sports company in the world.”

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