Sports Business/08/05/2020

Rorsted Remains at the Top of Adidas for Another Five Years

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Kasper Rorsted remains CEO of Adidas until 2026. The 58-year-old Dane has so far succeeded in "guiding Adidas and its employees through this unprecedented crisis in a healthy and safe manner". Rorsted's contract did not expire until 2021, but has now been extended early.

Author: Barbara Kals

With Continuity Through the Corona Crisis

Igor Landau, outgoing member of the Adidas Supervisory Board, emphasizes that the focus is on "continuity and leadership" in the company right now. He is thus also referring to the new strategic cycle of the sports giant, which starts in 2021.

Adidas was hit by the Corona crisis early on: In the important Chinese market, sales plummeted in January. As a result, the sporting goods manufacturer suffered financially throughout the first quarter. Sales and profits slumped massively: Profit from continuing operations, the key performance indicator at Adidas, fell by 97 percent to just 20 million euros.

Author: Barbara Kals