The Supervisory Board at adidas AG is ready to appoint a new CEO in 2023, as current CEO Kasper Rorsted relinquishes his position to a new successor during the year.
Strengthened brand’s market position
In partnership with the Supervisory Board and Management Board, Rorsted will play a vital role in ensuring a smooth transition of this process. During his tenure at adidas AG from 2016, Rorsted repositioned adidas AG as one of the most trustworthy brands in the sportswear and accelerated its digital transformation. He helped the company grow online sales by almost five times, notes Thomas Rabe, Chairman.
During Rorsted’s tenure Adidas doubled sales in the world’s largest market, North America. It also gained formidable advantage in sustainability besides increasing diversity, equity and inclusion throughout the company. The share of women engaged in top leadership positions also increased sharply.
Making a successful restart
Having successfully divested TaylorMade, CCM Hockey and Reebok, adidas AG is now focusing on its core brand adidas. Marked by several economic obstacles in the last three years due to the pandemic and geopolitical tensions, the brand is set to initiate CEO transition to help the company make a successful restart.
An iconic sportswear brand, adidas has achieved great heights in its space. The brand’s business remained significantly disrupted in the past few years due to some external factors. Kasper Rorsted states, “adidas is an iconic sports brand. As a company, we have achieved great progress in strategic areas of our business. I am proud of our achievements as a team. 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.”
At the moment adidas business is growing almost 85 per cent and it aims to accelerate this growth across all markets and continue to operate without major disruptions in future.
