Adidas will get a new CEO during the course of 2023 as it seeks to emerge from the turbulence of Covid-19 lockdowns and other challenges, the German sportswear giant said on Monday.<\/p>\n
Current CEO Kasper Rorsted will remain in post until a successor has been appointed to help ensure a smooth transition at the helm of the company, Adidas said in a statement.<\/p>\n
After three challenging years that were marked by the economic consequences of the Covid-19 pandemic and geopolitical tensions, it is now the right time to initiate a CEO transition and pave the way for a restart, said Thomas Rabe, chairman of the Adidas supervisory board.<\/p>\n
The transition was mutually agreed upon, according to the companys statement.<\/p>\n
Rorsted, who has helmed the iconic German company since 2016, said the past years have been marked by several external factors that disrupted our business significantly.<\/p>\n
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, he said.<\/p>\n
Adidas in July cut its 2022 outlook, partly due to an expected double-digit drop in Chinese sales for the rest of the year as Covid-19 lockdowns keep consumers out of shops.<\/p>\n
The firm said its adjusted guidance also accounts for a potential slowdown of consumer spending in (other) markets during the second half of the year as a result of the more challenging macroeconomic conditions.<\/p>\n
The Nike rival now sees net profit for the year coming in at 1.3 billion euros ($1.3 billion) compared to its earlier forecast of between 1.8 and 1.9 billion euros.<\/p>\n
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Adidas CEO Rorsted to stand down in 2023 - Macau Business<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Adidas will get a new CEO during the course of 2023 as it seeks to emerge from the turbulence of Covid-19 lockdowns and other challenges, the German sportswear giant said on Monday. Current CEO Kasper Rorsted will remain in post until a successor has been appointed to help ensure a smooth transition at the helm of the company, Adidas said in a statement Continue reading