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Adidas Seeks New CEO Following Rorsted’s Surprise Departure

  • Board agreed with Rorsted to help with transition to new boss
  • Rorsted engineered Reebok sale, issued recent profit warning
Kasper Rorsted
Kasper RorstedPhotographer: Simon Dawson/Bloomberg
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Adidas AG announced the surprise departure of Chief Executive Officer Kasper Rorsted next year, forcing the search for a new leader as the German sporting goods company reels from years of lockdowns and consumer boycotts in China. 

The Adidas board and Rorsted have “mutually agreed” that he would hand over the top job in the course of next year, according to a statement Monday. Rorsted, whose contract was renewed in 2020 for five years, will remain CEO until a successor has been appointed to ensure a smooth transition.