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Adidas initiates chief executive transition

Adidas has confirmed that Kasper Rorsted will hand over his chief executive position during the course of 2023. With a search for his successor already begun,… View Article

SPORTS & LEISURE

Adidas initiates chief executive transition

Adidas has confirmed that Kasper Rorsted will hand over his chief executive position during the course of 2023.

With a search for his successor already begun, Rorsted will work with the company’s supervisory board and management board to ensure a smooth transition.

In a statement, Adidas thanked Rorsted for his “major achievements”.

Thomas Rabe, chairman of the supervisory board of Adidas, added: “During his tenure since 2016 he has strategically repositioned the company and fast-forwarded its digital transformation. Under Kasper’s leadership Adidas has substantially advanced its digital capabilities and grown its online sales by a factor of more than five. In North America, the world’s largest sporting goods market, Adidas has doubled its sales. In addition, Adidas has strengthened its leadership position in sustainability and increased diversity, equity and inclusion throughout the company.”

In the coming months, Adidas will focus on accelerating growth as soon as all markets can operate without major disruptions.

Rorsted said: “The past years have been marked by several external factors that disrupted our business significantly. It required huge efforts to master these challenges. This is why enabling a restart in 2023 is the right thing to do – both for the company and me personally. Our business is heading in the right direction.”

 

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