ADIDAS APPOINTS NEW CEO

Adidas AG has appointed Kasper Rorsted as CEO to take effect October 1 after a two-month transition period to start on August 1. Current CEO Herbert Hainer has agreed to relinquish his executive board mandate effective September 30, prior to the expiring of his executive board service contract at the end of March 2017.

The Danish-born Rorsted, who is 53 years old, and has headed up the German DAX company Henkel as CEO since 2008. He has extensive international management experience, having held positions with high-caliber companies such as Oracle, Compaq and Hewlett Packard.

“Kasper Rorsted is a passionate runner, skier and football fan,” said Igor Landau, chairman of the supervisory board of Adidas AG. “Therefore I am convinced that, together with the top management of the Adidas Group, he will continue the company’s dynamic growth strategy and lead the Adidas Group to new successes.”

Added Landau: Herbert Hainer has done a tremendous job for the Adidas Group. Under his leadership, Adidas Group sales have tripled, net income and the number of employees have quadrupled, and the value of the company has increased from € 3 billion to € 18 billion. Yet it is not only the financial metrics that are notable: Under Herbert, the Adidas Group has become one of the most sustainable corporations in Europe and one of the world’s most attractive employers. I am pleased that Herbert will continue this success story during his remaining term of office and that, together with his successor, he will ensure the best possible transition at the helm of Adidas AG.”