Sportswear brand Adidas has said in a statement it intends to appoint Thomas Rabe as its new chairman, following a board meeting last week.
Rabe, who has held the position of deputy chairman since May 2019, would succeed Igor Landau as chairman, who spent over 15 years at the company.
He was also appointed to the board of global media, services and education company Bertelsmann as well as its CFO in 2006.
He has also held the position of CEO of Bertelsmann since 2012.
Landau said: “In the interests of a smooth hand-over and in line with the transition of the current strategic five-year plan to a new strategic cycle starting at the beginning of 2021, May is the right time to hand over my mandate as supervisory board chairman to a successor.
“I am convinced that Thomas Rabe will make an excellent chairman, enriching the board in this role with his great leadership, digital and financial competence.”
Rabe added: “I am delighted to be nominated for the chairmanship of the supervisory board of adidas AG. I am aware that this office entails a high degree of responsibility which I will gladly take on in the interests of shareholders, customers, consumers, employees and partners.
“I would like to take this opportunity, also on behalf of all the supervisory board members, to thank Igor Landau for his successful work and his dedicated service to the company.”
The annual general meeting of Adidas AG will take place on 14 May in Fuerth, Bavaria.