By Matthew Roscoe • 22 August 2022 • 15:18
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Sporting goods manufacturer Adidas announced on Monday, August 22, that it is parting ways with its current CEO Kasper Rorsted.
Kasper Rorsted and the supervisory board came to a mutually agreed that Rorsted would resign from office in 2023, the Dax investors group said.
Adidas AG is a German multinational corporation, founded and headquartered in Herzogenaurach, Bavaria, that designs and manufactures shoes, clothing and accessories. It is the largest sportswear manufacturer in Europe, and the second largest in the world, after Nike.
The 60-year-old Dane joined Adidas in 2016. Last year, the group had a turnover of €21.2 billion.
“Under Kasper’s leadership, Adidas has significantly improved its digital capabilities and increased its online sales. In North America, the world’s largest market for sports equipment, Adidas has doubled its sales,” the company said.
“After three challenging years, which were marked by the economic consequences of the covid-19 pandemic and geopolitical tensions, now is the right time to pave the way for a new chapter.”
Rorsted said: “The past few years have been characterised by several external factors that have significantly disrupted our business. It took a huge effort to steer Adidas through these challenges.
“That is why it is the right thing to start a new chapter in 2023 – both for the company and for me personally,” he said following the announcement.
Back in February, the sporting goods manufacturing giant created a stir online after launching an ad campaign to advertise its new range of products, showing bare breasts.
The ad, which is meant to sell its new range of bras, did just the opposite according to many who have commented online at the time.
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Originally from the UK, Matthew is based on the Costa Blanca and is a web reporter for The Euro Weekly News covering international and Spanish national news. Got a news story you want to share? Then get in touch at [email protected]
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