Adidas Is Looking For A New CEO Following Current Head’s Sudden Departure
Catching the industry completely off guard, Adidas has confirmed that Chief Executive Officer Kasper Rorsted will depart the company next year, opening the doors for a new face to take over at the helm.
According to a statement, the German sportswear giant says it has “mutually agreed” that Rorsted would hand over the reins to the top spot in 2023, though he will remain in the position until the incoming leader has been identified.
It appears that the sudden move follows three “challenging” years for the brand, still reeling from the aftermath of the pandemic and geo-political tensions that have seen sales slow down. The board apparently feels that it is “the right time” for the transition to take place and “pave the way for a restart.”
Despite the recent slump, Rorsted has certainly done his part to boost Adidas’ global presence, having fast-forwarded the firm’s digital transformation since he stepped into the role in 2016, increasing its online sales by over five times.
Additionally, he is credited with boosting sustainability, inclusivity, and diversity throughout the company, in which the percentage of women being promoted to leadership positions increased significantly during his tenure.
“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 a a team,” says Rorsted.
“The past years have been marked by several external factors that have 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 personally,” he concludes.
