Adidas Appoints New CEO

Adidas Appoints New CEO

Kasper Rorsted, CEO of multinational consumer brand Henkel, will replace Herbert Hainer as Adidas AG CEO, effective Aug. 1.

Hainer, 61, has agreed to relinquish his executive board mandate effective Sept. 30, 2016, prior to the expiry of his executive board service contract at the end of March 2017.

Rorsted, 53, will join the Adidas Group as a member of the Executive Board on August 1, 2016 in order to ensure a smooth transition at the helm of the Group together with Herbert Hainer.

Rorsted has extensive international management experience, having held positions with high-caliber companies such as Oracle, Compaq and Hewlett Packard. For eight years, Rorsted has successfully headed up Henkel, a German DAX company that just like the Adidas Group is known for its growth, internationality and sustainability.

Igor Landau, chairman Of The supervisory board Of Adidas AG, said, “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.”

In addition, on behalf of the entire Supervisory Board, Igor Landau thanked Herbert Hainer, who will leave the company on September 30, 2016, 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 €3 billion to €18 billion. 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.”