Adidas extends contract of CEO Kasper Rorsted

04 Aug '20

2 min read

Pic: Adidas

The supervisory board of Adidas AG has extended the appointment of chief executive officer Kasper Rorsted by another 5 years until July 31, 2026. Rorsted has been member of Adidas executive board since August 2016, and its chief executive officer since October 2016. Adidas is a global leader in the sporting goods industry with core brands Adidas and Reebok.

“Rorsted has driven the implementation of our long-term strategy ‘Creating the New’ with great energy and success. He clearly left his mark focusing the company on sustainable growth and increasing its profitability,” said Igor Landau, chairman of the supervisory board of Adidas. “The outbreak of the corona pandemic posed major challenges even for a successful company such as Adidas. The management team under the leadership of 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.”

“The supervisory board is looking forward to continuing its successful collaboration with 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,” said Thomas Rabe, deputy chairman of the supervisory board of Adidas AG.

Rabe will take over as chairman of the supervisory board from Igor Landau at the end of the Annual General Meeting on August 11, 2020.

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