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Adidas AG has announced that it has initiated a CEO transition as its current chief executive, Kasper Rorsted, will step down and hand over the position in 2023 in order to “pave the way for a restart”.
The search for a succession has started, and Rorsted will remain CEO until a successor has been appointed. Jointly with the supervisory board and the management board, he will ensure a smooth transition at the helm of the company.
Under Rorsted’s leadership, Adidas has advanced its digital capabilities and grown its online sales by a factor of more than five. In North America, Adidas has doubled its sales.
In addition, Adidas has improved its position in sustainability and increased diversity, equity and inclusion throughout the company. For example, the share of women in leadership positions increased “significantly” during his tenure.
Thomas Rabe, chairman of the supervisory board of Adidas AG, said: “We would like to thank Kasper for his major achievements. During his tenure since 2016 he has strategically repositioned the company and fast-forwarded its digital transformation.
“After three challenging years that were marked by the economic consequences of the Covid-19-pandemic and geo-political tensions, it is now the right time to initiate a CEO transition and pave the way for a restart. We are pleased that Kasper will ensure a smooth transition at the helm of the company during the upcoming months jointly.”
Rorsted added: “I am proud of our achievements as a team. 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.
“Our business is heading in the right direction. We are growing double-digit in 85% of our business. In the months to come our focus will be to accelerate our growth as soon as all markets can operate without major disruptions. Together with the adidas team I am looking forward to realising this growth.”
