adidas CEO steps down

CEO Kasper Rorsted will hand over the position through the course of 2023.

Adidas AG announced adidas CEO Kasper Rorsted will be handing over the CEO position during the course of 2023.

He will remain as CEO whilst the search for a successor is concluded.

“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,” Rorsted said in a statement.

He noted that the company is seeing a double-digit growth across 85% of its businesses.

“In the months to come our focus will be to accelerate our growth as soon as all markets can operate without major disruptions,” he said.

“Together with the adidas team I am looking forward to realizing this growth and, jointly with the Supervisory Board, to ensuring a smooth transition at the helm of the company.“

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