Adidas extends CEO Kasper Rorsted's contract by five years

Adidas AG has extended the appointment of Chief Executive Officer Kasper Rorsted by another five years until July 31, 2026. Rorsted has been a member of the Adidas executive board since August 2016, and the company’s Chief Executive Officer since October 2016.

“Kasper Rorsted has driven the implementation of our long-term strategy ‘Creating the New’ with great energy and success. He clearly left his mark focusing the company on sustainable growth and increasing its profitability”, said Igor Landau, Chairman of the company’s supervisory board in a statement, adding, “The management team under the leadership of Kasper Rorsted succeeded in steering Adidas and its employees healthily and safely through this unprecedented crisis. Continuity and strong leadership are important especially in these times, also in view of the new strategic cycle which will start in 2021.”

Thomas Rabe, Deputy Chairman of the Supervisory Board of adidas AG, who will take over as Chairman of the Supervisory Board from Igor Landau at the end of the annual general meeting on August 11, 2020, added: “The supervisory board is looking forward to continuing its successful collaboration with Kasper Rorsted. We are convinced that under his leadership, the executive board will further advance Adidas’ development towards becoming the best sports company in the world.”

Picture:Adidas media gallery