Adidas has appointed Thomas Rabe, CEO of Bertelsmann, as chairman of the company’s supervisory board.
He will succeed Igor Landau whose supervisory board mandate expired after 16 successful years at the end of the Annual General Meeting on yesterday (11 August).
Rabe has been a member of the Adidas supervisory board since May 9, 2019, and deputy chairman of the supervisory board since this same point in time. He was appointed to the executive board of Bertelsmann, a global media, services and education company, as chief financial officer in 2006. He has been CEO of Bertelsmann since 2012.
Rabe said: “I am very much looking forward to the task of accompanying Adidas as chairman of the supervisory board. 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 thank Igor Landau, also on behalf of the entire supervisory board, for his extremely successful work. He has rendered great service to the company.”
Adidas also announced the appointment of Bodo Uebber as chairman of the audit committee.
He succeeds Herbert Kauffmann, who remains on the supervisory board until the 2021 AGM. Ian Gallienne has also been appointed as the new additional deputy chairman of the supervisory board.
In addition, the supervisory board members announced that they would waive 30% of their remuneration for the current financial year due to the coronavirus crisis. Instead, the money will be donated to SOS Children’s Villages, among others.
The news comes as Adidas announced it has extended the contract of its CEO Kasper Rorsted by a further five years.
Rorsted has been a member of the Adidas executive board since August 2016 and became the brands chief executive two months later. His contract was initially due to expire in July 2021, but has now been extended since 2026.