Adidas Names New Ceo
Adidas AG has appointed Kasper Rorsted as its new CEO, who will succeed long-term incumbent Herbert Hainer from 1st October.
Rorsted has headed Henkel, a consumer goods firm, for eight years after leaving by “mutual consent” this week. He joins adidas as member of the executive board on 1st August before starting his new role in October.
Hainer has been in the role since March 2001, with adidas announcing it would be replacing him last February, despite his contract ending in 2017. During his tenure, sales of adidas doubled, but came under fire when adidas lost market share to Nike and falling golf sales.
Following the announcement of Hainer’s departure, adidas shares were up 5.8%, while Henkel was down 4.5%.
“Kasper Rorsted is the perfect candidate to succeed Herbert Hainer as CEO of adidas AG. He has extensive international management experience, having held positions with high-calibre companies such as Oracle, Compaq and Hewlett Packard. For eight years, Kasper Rorsted has very successfully headed up Henkel, a DAX company that just like the adidas group is known for its growth, internationality and sustainability,” said Igor Landau, chairman of the Supervisory Board of adidas AG.
“Kasper Rorsted is a passionate runner, skier and football fan. Therefore I am convinced that, together with the top management of the adidas group, he will continue the company’s dynamic growth strategy and lead the adidas group to new successes. The Supervisory Board looks forward to successfully working with Kasper Rorsted and the entire adidas AG Executive Board.”
On behalf of the supervisory board, Igor Landau thanked Herbert Hainer for his achievements: “Herbert Hainer has done a tremendous job for the adidas group. Under his leadership, adidas group sales have tripled, net income and the number of employees have quadrupled, and the value of the company has increased from €3bn to €18bn.
“Yet it is not only the financial metrics that are notable: Under Herbert Hainer, the adidas group has become one of the most sustainable corporations in Europe and one of the world’s most attractive employers. For these outstanding achievements, he already today deserves the heartfelt gratitude of the Supervisory Board and all adidas group employees. I am pleased that Herbert Hainer will continue this success story during his remaining term of office and that, together with his successor, he will ensure the best possible transition at the helm of adidas AG.”
